OpenAI is said to be in talks with Broadcom about developing custom AI inference chips to run its models. On an earnings call last week, Broadcom disclosed that an AI developer had placed a $10 billion order for AI server racks using its chips. That new customer was reported to be OpenAI, which has relied primarily on hotly sought-after Nvidia GPUs for model training and deployment. Broadcom specializes in XPUs — accelerator chips designed for specific uses, like inference for ChatGPT. OpenAI CEO Sam Altman has publicly complained that a shortage of chips has impeded the company’s ability to get new models and products to market. Continue reading OpenAI Reportedly Turning to Broadcom for Custom AI Chips

Santa Clara, California-based Nvidia reported its sales were $46.7 billion for the most recent quarter, marking 56 percent growth over the same period last year and up 6 percent sequentially. Profit rose more than 59 percent to $26.42 billion. The results, which surpassed estimates, reassured global analysts and investors that AI infrastructure spending remains strong, easing — though not erasing — anxieties about an AI bubble. This summer, the chipmaker became the first company to exceed a market cap of $4 trillion, and it is considered a global barometer for the overall health of the artificial intelligence sector. Continue reading Nvidia Announces Continued Growth, $26 Billion in Q2 Profit

The U.S. government is taking a 10 percent stake in Intel in exchange for $5.7 billion in grants previously awarded, but not yet paid, to Intel under the U.S. CHIPS and Science Act and $3.2 billion awarded to the company as part of the Secure Enclave program. Intel had already received $2.2 billion from those funds, bringing the U.S. investment to $11.1 billion. However, the company’s mounting losses — $2.9 billion in Q2, a 57 percent increase over Q2 2024’s $1.61 billion loss — made it questionable as to whether the company could continue to fulfill terms for the funding without intervention. The Intel agreement marks the largest U.S. government equity deal for an individual tech firm. Continue reading U.S. Is Taking 10 Percent Intel Stake in Equity for Grants Deal

In a major local television group consolidation move, Nexstar Media Group of Texas has reached an agreement to acquire a rival, Virginia-based Tegna, in a $22 per share cash transaction valued at $6.2 billion. The boards of both Nexstar and Tegna unanimously signed off on the deal, which is expected to close by the end of next year subject to FCC regulatory approval. The price includes Tegna debt and estimated transaction expenses and fees. Nexstar has more than 200 owned or partner stations while Tegna has 64. As a result of the consolidation, the combined company will have TV stations in nine of the top 10 U.S. markets. Continue reading Nexstar to Acquire Tegna in $6.2 Billion TV Consolidation Deal

Kansas-based AMC Entertainment Holdings reported substantially improved financials for Q2 2025, reducing losses by 150 percent year-over-year to $4.7 million from $32.8 million from the same period a year prior. The world’s largest theater chain reported a 26 percent attendance increase during the period. CEO Adam Aron attributed the strong showing to an industrywide box office recovery that produced strengthened results across AMC Theatres in the U.S. and Odeon Cinemas in Europe. Total revenue of $1.4 billion marked a 35 percent improvement compared to Q2 2024, and EBITDA (earnings before interest, taxes, depreciation, and amortization) grew a stunning 150 percent to $189 million. Continue reading AMC Entertainment Turns Corner: Sales Surge, Losses Narrow

AMC Networks increased streaming revenue by 12 percent to $169 million in Q2 despite an 18 percent dip in U.S. ad sales. The company — whose portfolio of streaming platforms includes AMC+, Sundance Now, Acorn TV, Shudder, HIDIVE and ALLBLK — added 200,000 new subs in the April through June period, ending the quarter with a total of 10.4 million, a 2 percent increase. AMC said it now calculates streaming subscribers on the basis of paid signups. Ongoing challenges in the U.S. cable and satellite TV markets that berth the bulk of its business continue to drag on the balance sheet. AMC’s cable and satellite brands include AMC, BBC America, IFC, IFC Films, SundanceTV and WE tv. Continue reading AMC Networks: Streaming Revenue Growth, Drop in Ad Sales

Warner Bros. Discovery reported revenue growth in Q2 with a $9.8 billion total compared to $9.7 billion for the same period in 2024. Propelled by the success of films like the action/comedy “A Minecraft Movie” and the horror hit “Sinners” starring Michael B. Jordan — in addition to the international rollout of HBO Max — the company turned a profit of $1.58 billion for the quarter, a significant increase over the same frame last year. Television series including “The Last of Us” and “Abbott Elementary” were hailed as examples of “creative excellence.” In the shareholder letter, WBD says it “optimized” linear networks, while making “substantive progress” in the movie studios and streaming arms. Continue reading WBD Earnings Buoyed by ‘Minecraft’ Film, HBO Max Growth

Disney’s fiscal Q3 earnings and full year projections have topped expectations, with its Streaming and Parks businesses leading revenue streams. Operating income from streaming hit $346 million for the quarter, a significant increase over the same period last year. Disney ended Q3 with 183 million Disney+ and Hulu subscriptions, an increase of 2.6 million from Q2. Overall, revenue was up 2.1 percent to $23.7 billion for the three-month period ending June 28. In addition, the company announced that it plans to integrate Hulu into Disney+ for a new streaming app to be available next year. Continue reading Disney Reports Jump in Profit, Plans to Fold Hulu into Disney+

Roku has launched Howdy, an ad-free U.S. SVOD service that will cost $2.99 per month for access to a catalog of nearly 10,000 hours of entertainment from inaugural partners Lionsgate, Warner Bros. Discovery and FilmRise, as well as select Roku Original titles. “Priced at less than a cup of coffee,” Howdy is “meeting a real need for consumers who want to unwind with their favorite movies and shows uninterrupted, and on their terms,” said Roku founder and CEO Anthony Wood who feels people are willing to pay to avoid ads even though many ad-supported streaming services are available free. Continue reading Roku Launches Ad-Free Streaming Service for $3 per Month

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. Continue reading iPhone Sales Jump 10 Percent, Driving Apple to Record Profit

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. Continue reading Amazon Profit Is Up 30 Percent, but Forecast Spooks Market

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. Continue reading Meta Profit Is Up 36 Percent, Fueling Superintelligence Race

The $88 billion Microsoft invested in building data centers for artificial intelligence and cloud computing over the past year seems to be paying off with the company reporting profit of $101 billion for fiscal year 2025, which ended June 30. Quarterly revenue for the April through June period was $76.4 billion, up 18 percent year-over-year, with profit of $27.2 billion, a 24 percent increase. “Cloud and AI is the driving force of business transformation across every industry and sector,” said Microsoft Chairman and CEO Satya Nadella, noting Azure passed $75 billion in revenue for the year, up 34 percent. Continue reading Driven by AI and Cloud, Microsoft Profit Exceeds $100 Billion

Alphabet reported a 14 percent year-over-year revenue increase to $96.4 billion, propelled largely by growth in the Google Cloud and Google Search divisions. Artificial intelligence had a significant impact across the board, including in spending. Capital expenditure is expected to be roughly $85 billion in 2025, compared to $52.5 billion in 2024. Google Cloud generated $13.6 billion in Q2, up 32 percent from the same period last year. Advertising sales totaled $71.3 billion for the quarter, a 10.4 percent improvement from the year earlier frame. Google Search, which is integral to advertising sales, was up 11.7 percent. Continue reading Q2 Revenue Hits $96B as Google Invests in AI Search, Models

Netflix revenue grew to $11.08 billion in Q2, a 16 percent year-over-year increase that helped drive net profit up 46 percent to $3.1 billion. The company’s operating margin rose to 34.1 percent in Q2, a nearly 7-point rise over Q2 2024 that along with 30 percent full-year guidance puts the streamer on par with tech giants such as Apple (31 percent) and Google (32 percent). Although Netflix no longer provides quarterly subscriber updates, the company did share results of its half-year Engagement Report, indicating members watched more than 95 billion hours of Netflix content during the first six months of the year. Continue reading Netflix Records Impressive Q2: Revenue Reaches $11 Billion