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IBM reported third-quarter revenue and profit that beat market expectations, but investor optimism dimmed as growth in its key cloud software division slowed. The company’s shares fell 5% in after-hours trading, despite strong results driven by soaring demand for its new AI-powered mainframe systems. Revenue in the hybrid cloud unit, which includes Red Hat, rose […]
Meta announced plans to cut approximately 600 positions within its Superintelligence Labs division, part of a restructuring aimed at making the company’s artificial intelligence operations more agile and efficient. The layoffs will impact teams across Facebook Artificial Intelligence Research (FAIR), product-related AI, and AI infrastructure, according to the company. Meta said affected employees are encouraged […]
Reddit has filed a lawsuit in a New York federal court against artificial intelligence startup Perplexity, accusing it of unlawfully scraping Reddit data to train its AI-based “answer engine.” The complaint also names three other companies — Lithuania-based Oxylabs, Russia-based AWMProxy, and Texas-based SerpApi — alleging that they bypassed Reddit’s data protection systems to extract […]