Facebook parent Meta announced better-than-expected earnings for Q2 last week, surpassing Wall Street estimates for revenue and profit. The company plans to continue spending heavily on artificial intelligence and virtual reality, despite significant losses in its AR/VR and metaverse businesses. Meta reported a revenue increase of 22 percent from $32 billion for the same quarter last year, representing four straight quarters of growth exceeding 20 percent. The company noted that net income jumped 73 percent to $13.47 billion. Advertising revenue, largely from Facebook and Instagram, was up 22 percent year-over-year. Read more

AI media firm Runway has launched Gen-3 Alpha, building on the text-to-video model by using images to prompt realistic videos generated in seconds. Navigate to Runway’s web-based interface and click on “try Gen 3-Alpha” and you’ll land on a screen with an image uploader, as well as a text box for those who either prefer that approach or want to use natural language to tweak results. Runway lets users generate up to 10 seconds of contiguous video using a credit system. “Image to Video is major update that greatly improves the artistic control,” Runway said in an announcement. Read more

OpenAI has released its new Advanced Voice Mode in a limited alpha rollout for select ChatGPT Plus users. The feature, which is being implemented for the ChatGPT mobile app on Android and iOS, aims for more natural dialogue with the AI chatbot. Powered by GPT-4o, which is multimodal, Advanced Voice Mode is said to be able to sense emotional inflections, including excitement, sadness or singing. According to an OpenAI post on X, the company plans to “continue to add more people on a rolling basis” so that everyone using ChatGPT Plus will have access to the new feature in the fall. Read more

The Senate has introduced the NO FAKES Act (Nurture Originals, Foster Art, and Keep Entertainment Safe) to protect artists — their voices and visual likenesses — from the proliferation of deepfakes and digital replicas created without consent. The bipartisan bill seeks to impose liability for damages to those who violate the proposed new law. If passed, the NO FAKES Act would be the first federal protection from AI image appropriation, supporters say. Those who’ve rallied to the cause include SAG-AFTRA, the Recording Industry Association of America, the Motion Picture Association, Disney and major talent agencies. Read more

Samsung Electronics saw net profit rise sixfold in Q2, surging 46 percent — to $7.11 billion — compared to Q1. The buoyant results for the South Korean electronics manufacturer were driven by its semiconductor business and the demand for advanced chips needed to fuel the global boom in artificial intelligence. Although the company is the world’s top smartphone manufacturer, more than half of the quarter’s operating profit came from chip-making for the latest reporting period. Revenue for the April through June quarter resulted in a 23.42 percent increase year-over-year, while profit soared 1,458 percent. Read more