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Evolve Bank CEO fired after propositioning FBI agent who pretended to be a teen boy
Evolve Bank CEO Bob Hartheimer booking photo. Source: Shelby County Jail Bob Hartheimer, CEO of Tennessee’s Evolve Bank & Trust, was fired after U.S. law enforcement officials caught him propositioning a law enforcement officer posing as a 15-year-old boy on gay dating app Grindr. On Oct. 19, an employee of the Federal Bureau of Investigation […]
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While AI spending is top of mind, online ads are driving a lot of Big Tech’s growth
META CEO Mark Zuckerberg (L) and Microsoft CEO Satya Nadella. Getty Images As tech giants increase their already breathtaking spending on artificial intelligence, their respective digital advertising businesses have also gained momentum. Quarterly earnings reports this week from Meta, Amazon, Alphabet and Microsoft all showed healthy revenue on the ads front. The rising online advertising […]
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Reddit stock pops 14% after showing strong advertising and user growth
Reddit CEO Steve Huffman stands on the floor of the New York Stock Exchange (NYSE) after ringing a bell on the floor setting the share price at $47 in its initial public offering (IPO) on March 21, 2024 in New York City. Spencer Platt | Getty Images Reddit‘s stock popped more than 14% Friday after […]
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Amazon’s stock soars 12% on third-quarter beat and increased spending guidance
Amazon CEO Andy Jassy speaks during an Amazon Devices launch event in New York City, U.S., February 26, 2025. Brendan Mcdermid | Reuters Amazon shares soared 12% on Friday after the company reported an across-the-board beat for the third quarter and boosted its forecast for spending due to demand for artificial intelligence services. Cloud was a […]
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Tech’s $380 billion splurge: This quarter’s winners and losers of the AI spending boom
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 17, 2025. David Paul Morris | Bloomberg | Getty Images Tech’s internet giants have made it through earnings season, and they offered a consistent message to Wall Street: Artificial intelligence investments are only […]
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Reddit shares climb on earnings beat, strong forecast
Reddit CEO Steve Huffman stands on the floor of the New York Stock Exchange (NYSE) after ringing a bell on the floor setting the share price at $47 in its initial public offering (IPO) on March 21, 2024 in New York City. Spencer Platt | Getty Images Reddit reported third-quarter earnings on Thursday in which […]
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Roblox stock slips 15% as company expects more spending on safety and infrastructure
Roblox shares sank 15% on Thursday as the company said it expects increased capital expenditures that could pressure margins. The gaming company said it expects capital expenditures of $468 million, an increase of $158 million from prior guidance. “Our operating margin could decline slightly year-over-year due to the combination of higher DevEx rates and the […]
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Jim Cramer says buy the Meta plunge — but timing is key
Jim Cramer has decided to upgrade Meta Platforms — choosing to view Thursday’s post-earnings stock plunge as a buying opportunity. Meta shares were dropping 12% after the social media giant on Wednesday evening warned of spending increases this year and next to stay ahead in the artificial intelligence race. The Club is bumping Meta stock […]
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AI companies are downplaying amount of energy and capital they need, Joe Lonsdale says
Joe Lonsdale, the founder of venture firm 8VC, says that top executives in artificial intelligence are underselling the resources they need to meet their ambitious goals. These companies are ” afraid to scare their investors, and so they are telling them they need a lot less capital, a lot less energy than they know they actually […]
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Meta stock drops 10% as heightened AI spending overshadows strong third-quarter results
Meta’s CEO Mark Zuckerberg attends the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol, in Washington, U.S., January 31, 2024. Nathan Howard | Reuters Meta Platforms‘ stock dropped more than 10% Thursday as skepticism about the payoff from its aggressive artificial intelligence spending plans overshadowed strong results. The social media […]
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