Yazılar

Klarna Q2 Revenue Rises 20% Amid IPO Pause

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Swedish fintech Klarna reported on Thursday that its second-quarter revenue grew 20% year-on-year on a like-for-like basis, while adjusted operating profit increased slightly. Revenue for April–June reached $823 million, with adjusted operating profit at $29 million, up $1 million from the same period last year.

The number of active Klarna customers rose 31% year-on-year to 111 million. The company, known for its short-term financing model that reshaped online shopping, paused its planned U.S. initial public offering (IPO) in April due to recession concerns and uncertainty over tariffs.

Klarna had publicly filed its IPO paperwork in March, marking its second attempt to go public in three years since starting the process in November 2024. The company has not indicated when it will resume its IPO plans, though Bloomberg reported last month that it could occur as soon as September.

CoreWeave Beats Q2 Revenue Estimates on AI Demand but Posts Larger Loss

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Cloud services provider CoreWeave exceeded second-quarter revenue expectations on Tuesday, driven by strong demand for AI infrastructure, but a larger-than-expected net loss pushed its shares down 10% in after-hours trading.

REVENUE AND BACKLOG

  • Q2 revenue: $1.21 billion (est. $1.08B)

  • Revenue backlog: $30.1 billion as of June 30, up from $25.9 billion on March 31

  • Annual revenue forecast: Raised to $5.15–$5.35 billion from prior $4.9–$5.1 billion

LOSSES AND COSTS

  • Net loss: $290.5 million (est. $190.6M)

  • Operating expenses: Jumped to $1.19 billion from $317.7 million a year earlier
    CEO Michael Intrator noted the main challenge is accessing power shells to support AI infrastructure at scale.

AI GROWTH AND STRATEGY
CoreWeave operates 33 AI data centers in the U.S. and Europe and provides access to Nvidia chips for enterprises training large AI models.
The company highlighted rising demand for AI inference, particularly chain-of-thought reasoning models, which significantly increase computational requirements.

M&A AND CUSTOMER CONCENTRATION

  • CoreWeave’s $9 billion all-stock acquisition of Core Scientific will secure 1.3 GW of power under contract, though some shareholders oppose the deal.

  • The company acknowledged that its reliance on large customers like OpenAI is both a strategic advantage and a potential risk.

  • Contracts with hyperscalers have been expanded to meet growing demand.

MARKET RESPONSE
Shares fell 10% after-hours to $133.71, despite nearly tripling since the March IPO. Analysts noted that strong revenue visibility is tempered by cost growth and customer concentration risks.

Tencent Cites Uncertainty Over U.S. AI Chip Imports Amid Government Talks

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Chinese tech giant Tencent said Wednesday it lacks clarity on the status of U.S. AI chip imports, as Beijing and Washington continue negotiations, though it maintains sufficient inventory for its AI operations.

IMPORT UNCERTAINTY
Tencent President Martin Lau noted that ongoing discussions between the two governments have left the company without a definitive answer on AI chip imports, particularly Nvidia’s H20 chips, designed for the Chinese market and recently scrutinized for security concerns. Lau emphasized that the uncertainty will not constrain Tencent’s AI ambitions, as the company has multiple deployment options and adequate supplies for AI model training.

Q2 PERFORMANCE
Tencent reported strong second-quarter results, beating analyst expectations:

  • Revenue: 184.5 billion yuan ($25.7B), +15% YoY (est. 178.5B)

  • Domestic gaming revenue: 40.4 billion yuan, +17% YoY

  • International gaming revenue: 18.8 billion yuan, +35% YoY

  • Marketing services revenue: 35.8 billion yuan, +20% YoY

  • Net profit: 55.6 billion yuan (est. 52.3B)

AI STRATEGY AND INVESTMENTS
Tencent continues to invest in AI while moderating capital expenditure, which fell to 19.1 billion yuan in Q2 after higher spending in previous quarters. The company is focused on sustainable monetization of its AI initiatives.

Tencent has developed its Hunyuan large language model, releasing the “Turbo S” version in February, while also integrating third-party AI models like DeepSeek across platforms including WeChat, which boasts over 1 billion monthly active users.