China’s DJI, the world’s leading consumer drone company, has released the Osmo 360 camera globally. The move comes as Shenzhen-based camera company Insta360 announced it is entering the drone business with a 360-degree consumer drone. DJI says the Osmo 360 raises the bar on surround imaging as “the first 360 camera to shoot ultra-high-spec 8K/50fps 360-degree video and is the only 360 camera that can shoot continuously for 100 minutes in 8K/30fps.” While both the Insta360 X5 and KanDao’s QooCam 8K cameras match the resolution, neither model features the 50fps capability. Read more

Apple posted quarterly revenue of $94 billion, up 10 percent year-over-year, the largest quarterly growth spurt for the tech giant since December 2021. Net profit of $23.4 billion was a new record for the June quarter and up nearly 9 percent from the prior year. Sales of Apple’s iPhones totaled $44.6 billion for the quarter, a 13 percent increase year-over-year, with growth posted across “every geographic segment” and a record number of upgrades as customers raced to beat the impact of anticipated tariffs, according to the company. The results for Apple’s fiscal Q3 exceeded Wall Street estimates. Read more

Amazon Q2 earnings outperformed analyst expectations, but a strong performance wasn’t enough to quell market fears in light of a gloomy forecast and Amazon Web Services growth seen as anemic, at +17.5 percent, which was slower than the expansion of its competitors Microsoft Azure (+39 percent) and Google Cloud (+32 percent). Amazon’s Q2 profit was $18.2 billion, up nearly 30 percent on revenue of $167.7 billion, a 13 percent gain year-over-year. Advertising income of $15.7 billion was almost $1 billion more than StreetAccount’s estimate of $14.9 billion. But for the current quarter, Amazon estimated operating income between $15.5 billion and $20.5 billion. Read more

Adobe competitor Figma went public Thursday on the New York Stock Exchange in a debut that saw the price of its first public trade nearly triple from the $33 per share the company and its institutional investors offered it up at, to $85, for a valuation of about $50 billion, well beyond the $20 billion the San Francisco-based design software startup agreed to in 2022 to essentially be acquired by Adobe. That deal was nixed by European regulators, who determined the move would stifle competition. Figma shares closed Thursday at $115.50, for a valuation of $67.7 billion. Read more

Meta Platform reported another strong quarter, with profit up 36 percent to $18 billion on revenue of $47.5 billion, a 22 percent increase. Justifying to investors why the company spent billions restructuring AI operations as part of the new AI Superintelligence Lab and recruiting talent to run it, company CEO Mark Zuckerberg emphasized his desire “to build personal superintelligence for everyone in the world.” Zuckerberg said he believes AI superintelligence “has the potential to begin an exciting new era of individual empowerment.” Meta plans to more than double spending to build AI infrastructure, including server-filled data centers, and initiatives supporting model training and cloud computing. Read more