Category: Top Stories

Microsoft has invested over $13 billion in OpenAI, a bet that’s weighing on the company’s profitability.

The semiconductor unit reported third-quarter operating profit of 3.86 trillion won (about $2.8 billion), down 40% from the previous quarter.

Traders reviewed results from Microsoft and Meta Platforms, and they looked ahead to a key inflation reading due Thursday morning.

Meta CEO Mark Zuckerberg explained on the earnings call how the speed of Meta’s AI technology buildout led the company to lift guidance for capex.

Tesla CEO Elon Musk and his America PAC are supporting Republican nominee Donald Trump over Democratic nominee Kamala Harris in the presidential election.

Investors are expecting that Niccol will share more details about his turnaround strategy during the company’s conference call, scheduled for 5 p.m. ET.

Meta’s Reality Labs unit, which develops augmented and virtual reality technologies, logged an operating loss of $4.4 billion in the third quarter.

The annual pace of price increases is getting ever closer to the Federal Reserve’s 2% target.

Another busy day of megacap technology earnings kicks off Wednesday with results from Meta Platforms and Microsoft after the bell.

Microsoft’s results will give Wall Street the latest indication of how much the company is investing in data center infrastructure.