From ExchangeWire: 2024-05-03 05:05:27

This week, OpenAI and Microsoft are facing a lawsuit from eight major US newspapers, including the New York Daily News and Chicago Tribune, for copyright infringement. The case has been brought by Alden Global Capital, representing a significant legal challenge for the companies involved.

Amazon Ads experiences a 24% increase in revenue from 2022 to 2023, jumping from $38 billion to $47 billion. Amazon’s success in the advertising landscape is primarily attributed to the growth of sponsored ads, as highlighted by CEO Andy Jassy in a recent presentation.

Alphabet, the parent company of Google, reports strong financial results for Q1 with revenues reaching $80.5 billion. Revenue sources include Search ($46.16 billion), YouTube ($8.1 billion), and Cloud ($9.6 billion), with Services revenue growing by nearly a quarter year-over-year. The impressive performance has been driven by search, cloud, and YouTube revenues.



Read more at ExchangeWire: The Stack: OpenAI Sued by Eight Newspapers; Friday’s MadTech Daily