Alphabet announced that its revenue was up 14 percent to $84.7 billion in Q2, slightly outperforming expectations. Profits rose 29 percent to $23.6 billion, beating analyst targets by $900 million. Search continued to be a top performer, generating $48.5 billion in the three-month period ending June 30, while Google advertising was up 10.5 percent to $64.6 billion. Google CEO Sundar Pichai said the company’s cloud and generative AI solutions “are being used by more than 2 million developers.” The Google Cloud services unit surpassed the $10 billion quarterly revenue mark for the first time. “We are innovating at every layer of the AI stack,” Pichai added. Read more

In April, Meta Platforms revealed that it was working on an open-source AI model that performed as well as proprietary models from top AI companies such as OpenAI and Anthropic. Now, Meta CEO Mark Zuckerberg says that model has arrived in the form of Llama 3.1 405B, “the first frontier-level open-source AI model.” The company is also releasing “new and improved” Llama 3.1 70B and 8B models. In addition to general cost and performance benefits, the fact that the Llama 3.1 405B model is open source “will make it the best choice for fine-tuning and distilling smaller models,” according to Meta. Read more

Major League Baseball has rolled out a standalone streaming option of MLB Network for $5.99 per month without requiring a pay-TV subscription. The direct-to-consumer subscription streaming service is currently available to baseball fans in the U.S. without the need for cable, satellite or Internet TV. For die-hard fans, the MLB Network + At Bat bundle — available for $6.99 per month — also includes live game audio for all MLB teams through MLB At Bat, live Minor League Baseball games, and access to highlights and live look-ins via MLB Big Inning. Current MLB.TV subscribers can stream MLB Network for the rest of this season at no additional cost. Read more

Amazon Prime Video is releasing a newly redesigned app that promises to bring “clarity and simplicity back to streaming” with AI-powered improvements to navigation, personalization, purchases and recommendations. Among other upgrades, the app makes it easier to quickly identify movies and series that are available to Prime members at no additional cost. Prime members had been lobbying for a brighter line between what is included with a subscription and what comes with an additional cost. A global rollout began this week, and eventually the app will be available to all Prime Video customers. Read more

Nvidia and French startup Mistral AI are jointly releasing a new language model called Mistral NeMo 12B that brings enterprise AI capabilities to the desktop without the need for major cloud resources. Developers can easily customize and deploy the new LLM for applications supporting chatbots, multilingual tasks, coding and summarization, according to Nvidia. “NeMo 12B offers a large context window of up to 128k tokens,” explains Mistral, adding that “its reasoning, world knowledge, and coding accuracy are state-of-the-art in its size category.” Available under the Apache 2.0 license, it is easy to implement as a drop-in replacement for Mistral 7B. Read more