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Companies, deals, jobs and the wider economy.
Business & Economy Sony Profits Surge on Spider-Man Box Office and PS5 Software Sales WireByte Sony reported a 44% profit increase to 449.6 billion yen, driven by Spider-Man: Brand New Day’s $2.52 billion box office and strong PS5 software sales. Console hardware sales dropped to 2.6 million units due to supply constraints, while Marvel’s Wolverine sold 2.4 million copies. Sony raised its gaming segment forecast by 6%, anticipating further gains from the upcoming Grand Theft Auto VI launch.
Business & Economy Meta Acquires AI Coding Startup Conductor WireByte Meta has acquired Conductor, an AI coding startup founded in 2024, to enhance its software development tools. The company’s cloud service will shut down by late November, while local features remain active until early 2027. CEO Charlie Holtz joins Meta’s Superintelligence Labs, signaling a push toward agentic AI interfaces in the coming year.
Business & Economy Canva Cuts 22% of Staff in First Layoffs Amid Growth Slowdown WireByte Design platform Canva is laying off 1,271 employees, representing 22% of its workforce, marking its first job cuts since founding in 2013. CEO Melanie Perkins cited the first growth slowdown in a decade and ballooning AI infrastructure costs as primary drivers. The restructuring includes merging teams, reducing management layers, and shifting to a hybrid work model, reflecting a broader industry pivot toward cost efficiency.
Business & Economy AI Inference Startup Fal Doubles Valuation to $16B in $1.3B Funding Round WireByte San Francisco-based AI inference startup Fal has raised $1.3 billion in a Series F round led by Bessemer Venture Partners, doubling its valuation to $16 billion. The funding, which also includes Nvidia and T. Rowe Price, supports soaring demand for running trained AI models. Fal, which surpassed $800 million in annualized revenue, plans to expand its 185-person team and computing infrastructure to meet customer needs.
Business & Economy AMD Posts Record Q3 Revenue, Eyes Overtaking Intel WireByte AMD reported record $13.4 billion Q3 2026 revenue, driven by a 97% surge in data center sales to $8.5 billion. CEO Lisa Su projects $17 billion for Q4, potentially surpassing Intel’s guidance. While data center growth soars, gaming revenue fell 40%. AMD anticipates over 80% total growth in 2027 as AI demand reshapes the semiconductor landscape.
Business & Economy Sava Trust, YC F25 Startup, Seeks Founding Engineer in NYC WireByte Sava Trust, a Y Combinator-backed startup founded in 2025, is hiring a founding engineer in New York City. The company aims to build a full-stack, chartered trust company to modernize the sector holding trillions in generational wealth. The role offers $150K-$250K salary and equity, targeting candidates with over three years of experience.
Business & Economy Anthropic Reports 1,100% Revenue Surge Ahead of Wall Street IPO WireByte Anthropic announced a 1,100% revenue surge to $17 billion in Q3, ahead of its anticipated Wall Street debut. Despite a $23.3 billion net loss driven by non-cash valuation charges, the AI firm commits to $895 billion in computing power spending. The IPO serves as a critical test of investor confidence in the sustained AI spending boom.
Business & Economy Apple Q4 Revenue Beats Estimates Under New CEO Ternus WireByte Apple reported Q4 revenue of $114.5 billion, surpassing analyst forecasts and marking a strong debut for new CEO John Ternus. Earnings per share reached $2.10, driven by record iPhone sales and resilience in China. Results contrast with broader tech sector struggles, as Apple’s conservative AI spending preserved cash flow amid investor uncertainty over AI costs.
Business & Economy Apple Reports Record iPhone Revenue Amid iPhone Duo Supply Crunch WireByte Apple posted $57.58 billion in Q4 iPhone revenue, a 17% increase, driven by Pro models and price hikes. The company faces severe supply constraints for its new iPhone Duo foldable, with CEO John Ternus stating it cannot predict when demand will be met. Delivery estimates remain in January 2027, and a small percentage of units have been returned due to display issues.
Business & Economy Apple Q4 2026 Earnings: Record Revenue Amid Supply Constraints WireByte Apple reported a record $114.5 billion in Q4 2026 revenue, a 12% year-over-year increase, driven by strong iPhone and Services sales. Despite supply chain constraints and rising memory costs, the company posted $30.7 billion in net profit. CEO John Ternus, who took office in September, forecasted the upcoming December quarter as the company's biggest ever, citing high demand for new hardware including the iPhone Duo.
Business & Economy Apple CEO John Ternus Navigates First Earnings Call Amid Supply Chain Pressures WireByte Apple CEO John Ternus hosts his first earnings call for Q4 2026, succeeding Tim Cook. The company faces memory shortages and rising component costs, projecting $111.69B-$113.74B revenue. Key products include the iPhone Duo and touchscreen MacBook Pro. Analysts focus on holiday season performance and supply chain resilience under new leadership.