Tech
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Meta wants to spend more even after it lost $80 billion on the Metaverse and over 20 million users
Despite strong first quarter results, Meta’s stock plummeted nearly 9% Thursday thanks in part to a 20-million user drop and a massive spike in AI spending even as it continues to pour billions into its metaverse and virtual reality division, Reality Labs. The company, which reported its first quarter results Wednesday afternoon, exceeded analyst expectations…
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Tim Cook reveals the advice he gave Apple’s next CEO: The most important decision he’ll make is ‘where he spends his time’
Apple’s incoming CEO introduced himself to Wall Street on Thursday, in a brief earnings-call debut in which John Ternus emphasized his commitment to continuity at the $4 trillion company. Ternus, who will officially replace CEO Tim Cook in September, promised to continue the “deep thoughtfulness, deliberateness and discipline” in financial decision making that has marked…
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Half of Google’s and Amazon’s ‘blowout AI profits’ came from a stake in Anthropic—not from their actual business
Four of the largest U.S. tech companies reported earningsWednesday afternoon, confirming an AI capital expenditure buildout without modern precedent. Combined, they spent $130.65 billion on capital expenditures in the first three months of 2026—more than three times the inflation-adjusted cost of the Manhattan Project, in a single quarter. They plan to spend nearly $700 billion…
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With no end in sight, Trump considers new options in Iran war—including the ‘Dark Eagle’ hypersonic missile
Good morning. On Fortune’s radar today: At Google, search ain’t what it used to be. Markets: Crude climbs, stocks shrug. With no end in sight, Trump considers new options in Iran war. Midterms: The Senate is a coin-flip, polls say. America’s curious thirst for raw milk. Quick note: Subscribe to the forthcoming Fortune Gulf Brief.…
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Google Cloud revenue is now 18% of Alphabet’s business. Is this the beginning of the end of Google’s search identity?
Ever since Google was founded in 1998, search has been the core of the company’s identity. For much of that time, search has also been the engine (no pun intended) driving Google’s business. On Wednesday, that began to change. The company’s cloud computing business was the undisputed star of parent company Alphabet’s first-quarter earnings, posting…
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Microsoft, Meta, and Google just announced billions more in AI spending. Only Google convinced investors it’s paying off
Alphabet, Meta Platforms, and Microsoft just broke the news to investors that they’ll be spending billions more on the AI race. But only some investors saw red in response. Meta’s stock dropped more than 6% after hours, while Microsoft was essentially flat. Conversely, the share price of Google parent Alphabet rose almost 7% in after-hours…
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From encyclopedias to AI: How knowledge is changing the way we work
For most of human history, knowledge wasn’t something you could access instantly. It was scarce, slow to move, and often held by institutions built to store and interpret it. Universities, libraries, and professional guilds played that role for generations. If you wanted to learn something, you turned to a trusted source—such as a teacher, a…
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Tariff-proof pay: How boardrooms quietly made sure Trump’s trade war stopped at the CEO’s door
Good morning. On Fortune’s radar today: Markets: Oil up (again), stocks all over the place. Exclusive: CEOs got millions after boards ‘neutralized’ the impact of tariffs on exec comp. Exclusive: Nvidia’s Jensen Huang heralds new era of productivity powered by AI. Exclusive: AWS chief Matt Garman sees “massive change” ahead. Musk in OpenAI case: AI…
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AWS CEO Matt Garman sees huge business opportunity for Amazon in AI-powered software: ‘Everything is going to be remade’
AWS chief executive Matt Garman isn’t losing any sleep over talk of the “SaaSpocalypse.” In fact, he’s so confident companies will continue to buy software-as-a-service in the age of AI that he’s pushing Amazon Web Services into the SaaS business, and rolling out various products aimed directly at office workers and other professionals. On Tuesday…
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The uncomfortable truth about AI and the American worker
Surveys consistently show that workers dread artificial intelligence. They worry it will render their skills obsolete, hollow out their roles, and eventually eliminate their paychecks altogether. That anxiety has shaped public discourse, union bargaining tables, and congressional hearings for the better part of three years. But a sweeping new analysis from Morgan Stanley Research offers…