earnings
Reddit's US daily users slipped while everything else grew News
Reddit reported 130.3 million daily users and 61% revenue growth for the second quarter, but its US daily user count fell slightly from the previous quarter and the company said search referrals were choppy.
Amazon booked a $53.4 billion gain on Anthropic, and none of it is revenue News
Amazon's second-quarter net income more than tripled to $62.6 billion, and $53.4 billion of that is a non-operating paper gain from revaluing its stake in Anthropic rather than money any customer paid.
Meta's AI build swallowed 98% of its cash flow in a single quarter News
Meta reported second-quarter 2026 revenue of $60.80 billion, up 28%, but $31.08 billion of capital spending left just $784 million in free cash flow, and the company narrowed 2026 capex guidance upward to $130-145 billion.
IBM blames a rival AI model for its earnings miss News
IBM missed Q2 expectations and CEO Arvind Krishna named a competitor's frontier model as a cause, saying buyers are pausing cybersecurity deals until they know how much AI changes what security is worth.