Alphabet Class A

• Oracle's stock slides 7% on revenue miss even as AI backlog soars - Oracle flagged new business from Meta and Nvidia in reporting a 438% increase in remaining performance obligations.
• Rivian turns to AI, autonomy to woo investors as EV sales stall - Rivian is under pressure to deliver future growth potential for investors and expand its customer base amid slowing sales of electric vehicles.
• ‘Greetings, earthlings’: Nvidia-backed Starcloud trains first AI model in space as orbital data center race heats up - The company's Starcloud-1 satellite is running Gemma, an open model from Google, marking the first time in history that an LLM has been trained in outer space.
• Australia just pulled the trigger on a teen social media ban. Governments worldwide are watching - Australia has enacted the world's first ban on social media usage for users under the age of 16, in a move expected to be monitored by global lawmakers.  
• Microsoft to invest $17.5 billion in India's AI infra as Big Tech queues up for the Asian market - Microsoft has pledged $17.5 billion of investment in India's cloud and AI infrastructure, as more major tech players commit to the growing market.
• Apple gets a big price target hike, and Wells Fargo plants a big dealmaking flag - Citigroup raises its price target on Apple stock. Wells Fargo wants to become a top player in Wall Street dealmaking.
• OpenAI hires Slack CEO Denise Dresser to lead global revenue strategy - Dresser was named Slack's chief executive in 2023 after spending more than a decade at Salesforce.
• From Llamas to Avocados: Meta's shifting AI strategy is causing internal confusion - Meta’s push to develop its next frontier model, codenamed Avocado, under new AI leadership is creating internal friction as it races rivals OpenAI and Google.
• Google hit with EU antitrust investigation over use of online content for AI - It's the latest in a string of actions the European Commission has taken against U.S. big tech companies.
• Saudi Arabia eyes data embassies amid sovereign AI push. Here's what we know so far - Only two data embassies currently exist, but Saudi Arabia is looking to make them commonplace.