After years of speculation, Reddit has officially filed paperwork for an Initial Public Offering on the New York Stock Exchange.
Walmart is buying Smart TV manufacturer Vizio for $2.3 billion, the retail giant announced as part of its latest earnings report. While Walmart has long been one of the major sellers of Vizio TVs, the company says the acquisition "enables a profitable advertising business that is rapidly scaling" via the company's SmartCast OS.
NVIDIA is doing very well for itself, so much so that the chip maker has overtaken Alphabet, Google's parent company, to become the third most valuable company in the United States, Reuters reports.
Another day, another layoff occuring in the tech world. Instacart, the popular grocery delivery and pick-up service has announced the termination of 250 employees — about seven percent of its workforce. The layoffs are primarily individuals in management, as Instacart told Engadget that it was moving towards a flatter organization.
In an absolutely bananas turn of events, a typo in an earnings report caused Lyft shares to skyrocket nearly 70 percent after Tuesday’s closing stock market bell, as reported by CBS. There was an extra zero in the report that suggested a five percent margin expansion in 2024, instead of a .5 percent margin. This sent investors into a tizzy, as the company has long struggled to turn a profit.
While Toyota helped lead the hybrid charge with its Prius, the company has been less active in EV production. But that might be in the past, as Toyota has announced another $1.3 billion for its Kentucky facility, with a focus on EVs. In particular, the company is building a new three-row electric SUV that will be available for US customers.
At almost seven years old, the Nintendo Switch still has life left in it — so much so that Nintendo has upped its predicted sales figures for its current fiscal year. In its third-quarter earnings release, the company announced that it was increasing Switch's projected sales from 15 million to 15.5 million.
Snap, the parent company of Snapchat, is laying off 10 percent of its workforce, according to an SEC filing and confirmed by a company spokesperson. The company reported a total number of 5,367 employees at the end of 2023’s third quarter, so the layoffs should impact around 540 people.
Reality Labs, Meta’s division for AR, VR and the metaverse, just had its best quarter yet despite continuing its multibillion-dollar losing streak.