👎 Reddit's User-led Moderator Ousting, 📈 Tesla Sales Soar 52% in US, ✏️ Adobe's Earnings Soar

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Top headlines today:

• Tesla Sales Soar 52% in US

• Meta's Open-Source AI for Profit

• Reddit May Allow User-led Moderator Ousting

• US Agencies Targeted in Cyberattack

• Adobe's Earnings Soar, Embraces AI

• and more…

🌐 Big Tech

Tesla Sales Soar 52% in US (3-minute read)

Tesla Inc. has reported a significant surge in US sales in the first four months of 2023, marking a 52% increase in registrations compared to the same period last year. The sales boost follows deep price cuts, supporting CEO Elon Musk's strategy of prioritizing volume over profit. Particular growth was seen in the Model Y and Model 3, with a noticeable dip in Model S registrations.

Global Rollout: Instagram Channels (3-minute read)

Meta announces global launch of Instagram's Channels feature, enabling creators to share broadcast messages with fans.

Insight: This move from Meta is an industry-wide impact, broadening creator-audience interaction on Instagram, and advancing competition in the social media landscape.

Meta's Open-Source AI for Profit (2-minute read)

Meta is developing artificial intelligence software for commercial use, offering a free and potentially profitable alternative to proprietary AI systems by Google and OpenAI.

Google Boosts Search with AI-Driven Travel, Shopping Features (3-minute read)

Google is enhancing Search Generative Experience (SGE) with AI capabilities for enriched travel and product searching, leveraging their proprietary data.

Google Cautions AI Use (8-minute read)

Alphabet Inc. warns employees against using chatbots, including its own AI product Bard, due to potential data leak risk. Confidential information and generated codes should not be inputted into these AI systems.

🚀 Startups Scene

Reddit May Allow User-led Moderator Ousting (5-minute read)

Reddit CEO Steve Huffman responds to the ongoing subreddit blackout protest over planned site API pricing changes. Huffman proposes a system allowing users to vote out volunteer moderators, arguing for increased democracy within the platform. Despite the blackout led by a "small group" of users, Huffman insists that Reddit's new API fees are crucial for preventing third-party companies from accessing Reddit's content without paying or allowing ads.

Indefinite Blackout for Hundreds of Subreddits Over API Changes (4-minute read)

Following the Reddit CEO's controversial memo, over 300 subreddits, including r/aww, r/music, and r/futurology, plan to go dark indefinitely.

Canva Launches Dev Tools, $50M Fund (5-minute read)

At its inaugural Extend developer conference, Canva introduced a software development kit (SDK), enhanced APIs, an app marketplace, and a $50 million investment fund. The tools allow developers to create apps that integrate with Canva's platform and user base.

New Twitch Revenue Split Program (4-minute read)

Twitch announced a Partner Plus Program providing a 70/30 revenue split for eligible streamers, reverting to 50/50 after netting $100,000. Streamers need to maintain 350 recurring paid subscriptions for three months to qualify.

Revolut Valuation Slashed 40% (3-minute read)

Molten Ventures reduces its stake in Revolut by 40%, valuing it at nearly $70 million, amid struggles to secure a UK banking license.

🤖 AI & Emerging Tech

AI Tools Popular Among Programmers (3-minute read)

According to a GitHub survey, 92% of US-based developers are leveraging AI coding tools both in and out of work. Programmers recognize the substantial benefits AI offers for code quality and speed.

Dogs Outsmart AI, Meta Scientist Claims (3-minute read)

Yann LeCun, Meta's chief AI scientist, asserts current generative AI systems are less intelligent than dogs, lacking a grasp of real-world reality. Despite this, he envisions future AI as helpful, not threatening.

US Agencies Targeted in Cyberattack (3-minute read)

Several US federal agencies have been compromised in a global cyberattack exploiting a vulnerability in widely used software, MOVEit. The extent of the impact is still under investigation.

💰´Tech Market Pulse

Cloud Infrastructure Spending Slows (4-minute read)

As global businesses tighten their budgets, the surge in shares for Nvidia and AMD may be curtailed by a slowdown in cloud infrastructure spending. Analysts predict a potential extension of conventional CPU upgrade cycles from 3-4 years to 5-6 years.

Adobe's Earnings Soar, Embraces AI (2-minute read)

Adobe has not only posted strong financial results that surpassed expectations for the recent quarter, but also raised its full fiscal year outlook. Adobe's CEO emphasized the ushering in of a 'New Era of Generative AI' within the company.

Squarespace Acquires Google Domains (3-minute read)

Squarespace is set to acquire Google Domains for approximately $180 million, securing 10 million domains and millions of customers in the process. Squarespace will honor renewal prices for at least 12 months post-deal

Mistral AI Lands Record European Seed Funding, Targets Chatbot Market (2-minute read)

French AI startup Mistral AI sets record with 105 million euros seed funding, aiming to launch a ChatGPT alternative.