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Meta Platforms, Inc.

Meta Platforms, Inc.

$META
NASDAQTechnology

401 stories mentioning Meta Platforms, Inc.Updated 19h ago

Meta is adding AI-powered search ('AI Mode') and new creative editing tools to Facebook, drawing on public posts across its apps.

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Sectors

Sector Update: Tech

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.4%.The Philadelphia Semiconductor index climbed 1.6%.In corporate news, Meta Platforms (META) at one point this year internally projected it could spend up to $10 billion annually on Amazon-backed (AMZN) Anthropic's AI models, The New York Times reported. Meta's business would have formed a significant portion of Anthropic's annual revenue, which the company estimated in July would pass $65 billion, the report said. Meta shares were down 1.1%, and Amazon was shedding 1.7%.

$AMZN$META
Wire

Market Chatter: Meta, Roblox Agree to Child-Safety Measures in Philippines

Meta Platforms (META) and Roblox (RBLX) agreed to strengthen child-safety protections in the Philippines, including age verification, parental controls, faster removal of harmful content and closer cooperation with law enforcement, Reuters reported Thursday, citing Information and Communications Technology Secretary Henry Aguda.The commitments were made during meetings between Philippine officials and executives from both companies in Singapore, the report said.Roblox plans to open a Philippine office as early as October, while Meta will send a team to Manila to discuss expanding its presence, the report said.Meta and Roblox did not immediately respond to requests for comment from.Meta shares fell 1.2% in Thursday trading, and Roblox rose 1.8%.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $569.45, Change: $-6.69, Percent Change: -1.16%

$META$RBLX
Wire

Market Chatter: Meta Internally Projected $10 Billion Annual Spend on Anthropic AI Models

Meta Platforms (META) at one point this year internally projected it could spend up to $10 billion annually on Amazon-backed (AMZN) Anthropic's AI models, The New York Times reported Thursday, citing people with knowledge of the companies.Meta's business would have formed a significant portion of Anthropic's annual revenue, which the company estimated in July would pass $65 billion, the report said.Meta didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $570.66, Change: $-5.49, Percent Change: -0.95%

$META
Wire

Meta Internally Projected $10 Billion Spend on Anthropic AI Models, NYT Reports

Meta Internally Projected $10 Billion Spend on Anthropic AI Models, NYT Reports

$AMZN$META
Wire

Market Chatter: SpaceX's Musk, OpenAI's Altman Among Speakers at G20 Tech Meeting

SpaceX (SPCX) Chief Executive Elon Musk and former White House AI czar David Sacks are scheduled to speak at a tech-focused G20 ministerial meeting in North Carolina next week alongside Nvidia (NVDA) CEO Jensen Huang and Microsoft-backed (MSFT) OpenAI CEO Sam Altman, Bloomberg reported Thursday, citing people familiar with the matter.Musk, Sacks and Meta Platforms (META) President Dina Powell McCormick are expected to participate virtually on Sept. 1, while Altman and Huang are set to join the event on its second day, according to the report.The meeting will focus on the proposed non-binding Carolina Principles framework, which advocates a lighter-touch government approach to emerging technologies, including AI, Bloomberg added.SpaceX, Nvidia, Microsoft and Meta Platforms did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $138.96, Change: $-0.67, Percent Change: -0.48%

$META$MSFT$NVDA$SPCX$TSLA
Asia Markets

Update: US Equity Indexes Slip After Fed's Preferred Inflation Gauge Accelerates in July

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes slipped while most government bond yields edged up after the Federal Reserve's preferred inflation gauge swung higher in July.The Dow Jones Industrial Average fell 0.2% to 53,463.88, the S&P 500 edged less than 0.1% lower to 7,675.70, and the Nasdaq Composite declined less than 0.1% to 26,130.20. Industrials topped gainers while health, communication services and consumer discretionary led decliners.The headline personal consumption expenditure price index rose 0.2%, following a 0.1% slide in June, the Bureau of Economic Analysis reported Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey, keeping the annual headline rate at 3.7%, which also exceeded the expected 3.6% print. The Fed's preferred core measure, which excludes food and energy, climbed 0.2% in July, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.Most US Treasury yields rose, with the 10-year yield up one basis point to 4.65%.The probability of the Federal Reserve extending its policy pause to December stood at 27% late Wednesday, according to the FedWatch tool, almost unchanged from a day ago. Currently, there is a 45% chance of interest rates moving up by 25 basis points to a 3.75% to 4% target rate by December and a 24% likelihood of the fed funds rate being raised by 50 basis points to 4% to 4.25% by the end of this year.On Tuesday, Boston Fed President Susan Collins said the central bank may have to tighten its monetary policy soon, unless inflation continues to cool.US gross domestic product rose 1.5% in Q2, unrevised from the advance estimate released last month, as expected in a survey compiled by Bloomberg. GDP climbed 2.1% in Q1. New orders for US durable goods advanced 1.1% in July, up from 0.5% in June, versus expectations for 0.5% in a survey compiled by Bloomberg.In geopolitical news, the Iranian military said it reached a revenue-sharing deal with Oman on the Strait of Hormuz, Bloomberg reported. "Agreements have been reached regarding each country's share of the strait's waters as well as Iran and Oman's share of its revenues," Bloomberg cited the Islamic Revolutionary Guard Corps' spokesman Hossein Mohebbi on the state-run Sepah News agency.However, Reuters cited the IRGC as saying the strait would not open unless the US met Tehran's conditions under an interim ceasefire agreement that was struck in June before unravelling. Those conditions include an end to the US blockade on Iranian ports, compensation and removal of sanctions, the news outlet said."We have our own tools, and we also know the game," Iran's Economy Minister Ali Madanizadeh said while referring to Tehran's experience circumventing US sanctions, according to a report from Al Jazeera, a Middle Eastern broadcaster. Tehran could potentially "go on the offensive" and was confident that many countries would effectively reject US President Donald Trump's threats to cut off all links with Iran, he added.The front-month US West Texas Intermediate crude oil contract retreated 0.7% to $81.82 per barrel, and global benchmark North Sea Brent declined 1.4% to $87.38 per barrel.In company news, Truist downgraded Nike (NKE) to hold from buy while adjusting its price target to $42 from $47. Shares of the sports footwear and apparel retailer were down 2.3%.Meta Platforms (META) has agreed to pay up to $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a federal court filing.

Dow JonesNasdaq CompositeS&P 500$META$NKE$NVDA
Sectors

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Wednesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) easing 0.1%The Philadelphia Semiconductor Index was little changed.In corporate news, Meta Platforms (META) agreed to pay a maximum of $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a filing in federal court. Meta shares rose 1.2%.Amazon-backed (AMZN) Anthropic will spend $45 billion to rent about 460 megawatts of AI cloud computing power from Nscale's flagship data center in West Virginia over six years, Bloomberg reported. Amazon shares fell 0.4%.Zoom Communications (ZM) shares fell 6.6% after the company provided a downbeat earnings outlook for fiscal Q3 following a Q2 beat.Intuit (INTU) shares dropped 3.9%, a day after the company issued a soft fiscal 2027 outlook.

$AMZN$INTU$META$ZM
Asia Markets

Update: US Equity Indexes Slip as Investors Await Nvidia's Earnings After July's PCE Inflation Rate Accelerates

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell while most government bond yields rose after the Federal Reserve's preferred inflation gauge accelerated sequentially in July and as investors awaited AI bellwether Nvidia's (NVDA) quarterly earnings after the bell.The Nasdaq Composite declined 0.2% to 26,074.5, the Dow Jones Industrial Average fell 0.3% to 53,442.1 and the S&P 500 edged 0.1% lower to 7,670.6 after midday Wednesday. Industrials and energy topped gainers while consumer discretionary and communication services led decliners.In economic news, the headline personal consumption expenditure price index rose by 0.2%, following a 0.1% decline in June, the Bureau of Economic Analysis reported Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey, keeping the annual headline rate at 3.7%, which also exceeded the expected 3.6% print.The Fed's preferred core measure, which excludes food and energy, climbed 0.2% in July, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.The probability of the Federal Reserve extending its policy pause to December stood at 28% by Wednesday afternoon, according to the FedWatch tool, almost unchanged from a day ago. Currently, there is a 45% chance of interest rates moving up by 25 basis points to a 3.75% to 4% target rate by December and a 24% likelihood of the fed funds rate being raised by 50 basis points to 4% to 4.25% by the end of this year.On Tuesday, Boston Fed President Susan Collins said the central bank may have to tighten its monetary policy soon, unless inflation continues to cool.Most US Treasury yields rose. The 10-year yield rose 2.5 basis points to 4.66% and the two-year climbed 2.2 basis points to 4.23%.US economic growth, measured by gross domestic product, rose by 1.5% in Q2, unrevised from the advance estimate released last month, as expected in a survey compiled by Bloomberg. GDP rose by 2.1% in Q1. New orders for US durable goods rose 1.1% in July, up from 0.5% in the previous month, compared with expectations of a smaller increase of 0.5% in a survey compiled by Bloomberg.In geopolitical news, the Iranian military said it reached a revenue-sharing deal with Oman on the Strait of Hormuz, Bloomberg reported."Agreements have been reached regarding each country's share of the strait's waters as well as Iran and Oman's share of its revenues," Bloomberg cited the Islamic Revolutionary Guard Corps' spokesman Hossein Mohebbi on Wednesday as telling the state-run Sepah News agency.Reuters cited the IRGC as saying the strait would not open unless the US met Tehran's conditions under an interim ceasefire agreement that was struck in June before unravelling. Those conditions include an end to the US blockade on Iranian ports, compensation and removal of sanctions, the news outlet said.The front-month US West Texas Intermediate crude oil contract gained 0.5% to $82.76 per barrel, and global benchmark North Sea Brent rose 0.1% to $88.68 per barrel.In company news, Truist downgraded Nike (NKE) to hold from buy while adjusting its price target to $42 from $47. Shares of the sports footwear and apparel retailer were down 2.1%, the Dow's steepest decline.Meta Platforms (META) has agreed to pay up to $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a federal court filing.

Dow JonesNasdaq CompositeS&P 500$META$NKE$NVDA
Wire

Sector Update: Tech Stocks Mixed Wednesday Afternoon

Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) easing 0.1%.The Philadelphia Semiconductor index was fractionally lower.In corporate news, Meta Platforms (META) has agreed to pay a maximum of $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a filing in federal court. Meta shares were up 1.2%.Zoom (ZM) shares fell 6.5% after the video communication platform provided a downbeat earnings outlook for its fiscal Q3 following a Q2 beat.Intuit (INTU) shares dropped 3.6% after the tax and finance software maker overnight issued a soft fiscal 2027 outlook.

$INTU$META$ZM
Sectors

Sector Update: Tech

Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) shedding 0.5%.The Philadelphia Semiconductor index decreased 0.5%.In corporate news, Meta Platforms (META) has agreed to pay a maximum of $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a filing in federal court. Meta shares were up 0.9%.

$META
Meta Reaches Multi-Billion-Dollar Settlement With US States Over Social Media Addiction Allegations
US Markets

Meta Reaches Multi-Billion-Dollar Settlement With US States Over Social Media Addiction Allegations

Meta Platforms (META) has agreed to pay billions of dollars to settle a multistate lawsuit alleging, among other things, that the company's social media platforms negatively affect young users' mental health.A bipartisan group of 52 attorneys general across US states -- including California -- territories, and the District of Columbia joined the agreement, Meta said in a statement Wednesday. The proposed settlement includes a payment of up to $16.68 billion to the states over 10 years, a court document showed.The proposed settlement of the lawsuit, which centered on the alleged "harmful features" of Meta's Instagram and Facebook social media platforms, still requires court approval through a "consent judgement," California Attorney General Rob Bonta said in a separate statement.Meta is also required to take measures under the settlement deal, such as setting daily limits and nighttime blocks for teenage users of its social media platforms, providing muted notifications during school hours, and allowing new controls for parents."Today, we have secured a settlement with Meta that will make social media less dangerous for our kids and make a world of a difference for children and their families," Bonta said. "Meta has agreed to make massive transformations that will reduce the risk of harm from its platforms -- and will do it within months."Meta said the agreement includes a payment of about $18 billion, to be distributed in annual installments over a 10-year period. That includes about $12.7 billion to participating states.The remaining roughly $5.3 billion, according to Meta, will be released if Alphabet's (GOOG, GOOGL) YouTube and TikTok "implement a one-hour daily limit, night mode, and age assurance measures" and they each pay an amount equal to the 30% figure, "with half of the remaining funds tied to YouTube's payment and half tied to TikTok's.""Ensuring teens have a safe and productive experience on our platforms is an absolute imperative for Meta," the company said. "We want to get this right for parents and teens, and that's why we partnered with state attorneys general to set a new industry standard."Meta said it expects to "accrue a legal expense" of about $10 billion in the third quarter in connection with the settlement. The charge was not contemplated in the expense range provided on Meta's second-quarter earnings call, according to the company.Alphabet and TikTok's parent, ByteDance, didn't immediately reply to' requests for comment.Meta shares were up 1.8% in Wednesday afternoon trade, while Alphabet's class A and C shares were down more than 2% each.Price: $575.51, Change: $+5.46, Percent Change: +0.96%

$GOOG$GOOGL$META
Wire

Top Midday Stories: Meta to Pay Up to $16.68 Billion to Settle Teen Harm Case With States; Victory Capital to Buy First Eagle for $7 Billion

All three major US stock indexes were down slightly in late-morning trading Wednesday, as market participants took in the latest inflation data and prepared for Nvidia (NVDA) to release its earnings results after markets close.The personal consumption expenditures index, a measure of inflation, rose by 0.2% in July, faster than the 0.1% gain expected in a survey conducted by Bloomberg as of 6:10 am ET and following a 0.1% drop in June. The July figure keeps the year-over-year rate at 3.7%. The core PCE index, which excludes food and energy prices, increased by 0.2%, as expected and following a 0.1% gain in June. The year-over-year rate remained at 3.3% in the month.Separately, US gross domestic product rose by 1.5% in Q2, unrevised from the advance estimate released last month and matching the consensus estimate from a Bloomberg survey as of 6:10 am ET.In company news, Meta Platforms (META) has agreed to pay a maximum of $16.68 billion to resolve claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a Wednesday filing in federal court. The consent agreement's injunctive relief also requires Meta to take several steps to regulate children's usage of its social media platforms, including daily limits and nighttime blocks. In a separate release, Meta said the agreement includes a payment of about $18 billion to be distributed in annual installments over a 10-year period. Plaintiff states will receive about $12.7 billion over the decade, while the remaining roughly 30%, or $5.3 billion, will be released if Alphabet's (GOOG, GOOGL) YouTube and TikTok "implement a one-hour Daily Limit, Night Mode, and Age assurance measures," and they each pay an amount equal to the 30% figure. Meta shares were up 2.1% around midday. Alphabet's Class C and Class A shares were down 1.1% and 1.2%, respectively.Victory Capital (VCTR) signed a definitive agreement to acquire First Eagle Investments from Genstar Capital and First Eagle employees for about $7 billion, Victory said Wednesday. Victory will pay about $4.4 billion in cash, $2 billion in newly issued shares and will assume $575 million of First Eagle's existing 7.25% senior secured notes due 2032, the company said. The deal is expected to close in Q1 2027, at which point Genstar will own a 14.6% stake in Victory, the company said. Victory Capital shares were up 6.3%.Intuit (INTU) reported fiscal Q4 adjusted earnings late Tuesday of $4.03 per diluted share, up from $2.75 a year earlier and above the FactSet consensus of $3.58. Fiscal Q4 revenue was $4.35 billion, up from $3.83 billion a year ago and above the FactSet consensus of $4.27 billion. For fiscal Q1, the company expects adjusted EPS of $2.44 to $2.48 on revenue of $4.29 billion to $4.31 billion. Analysts polled by FactSet expect $4.04 and $4.35 billion, respectively. For fiscal 2027, Intuit expects adjusted EPS of $22.88 to $23.12 on revenue of $23.28 billion to $23.51 billion. Analysts expect $27.34 and $23.70 billion, respectively. The company raised its quarterly dividend to $1.38 per share from $1.20, payable on Oct. 16. Intuit shares were down 4.5%.Boston Scientific (BSX) identified a cybersecurity incident that affected some of its IT systems and led to global disruptions in operations, the company said Wednesday in a regulatory filing. Boston Scientific shares were down 4.7%.Amazon (AMZN), Microsoft (MSFT) and Alphabet's Google are in talks with Chinese AI startup Moonshot AI over revenue-sharing deals for hosting Moonshot's Kimi K3 model, Reuters reported Wednesday, citing sources familiar with the matter. Separately, Amazon plans to expand fulfillment capacity, same-day delivery and its logistics network in Canada despite escalating trade tensions between the US and Canada, Business Insider reported Wednesday, citing internal company documents. Lastly, Amazon's AWS unit is acquiring DuckLabs, the Amsterdam-based company behind the open-source analytical database DuckDB, for an undisclosed sum, Amazon said. The deal is expected to close shortly, Amazon said. Shares of Amazon were down 0.6%, and Microsoft was up 0.7%.Price: $582.24, Change: $+12.19, Percent Change: +2.14%

$AMZN$BSX$GOOG$GOOGL$INTU$META$MSFT$NVDA$VCTR
Wire

Update: Meta to Pay Up to $16.68 Billion to Settle Teen Harm Case With States

(Update with more details on the settlement throughout from a Meta press release.)Meta Platforms (META) has agreed to pay a maximum of $16.68 billion to resolve the claims brought by several US states that the tech giant used its platforms to "ensnare" youth and teens, according to a filing in federal court.The injunctive relief within the consent judgement requires "(1) default daily limits and nighttime blocks for teenage users of Meta's Social Media Platforms; (2) enhanced age assurance measures to prevent children from accessing the Platforms, or age-restricted content available on the Platforms; (3) establishment of additional tools to help parents and guardians to protect their children online; and (4) Meta to make payments to Plaintiffs as provided therein," the filing said.Meta said in a separate release that the agreement includes a payment of about $18 billion to be distributed in annual installments over a 10-year period. Plaintiff states will receive about $12.7 billion over the decade, while the remaining roughly $5.3 billion will be released if Alphabet's (GOOG, GOOGL) YouTube and TikTok "implement a one-hour Daily Limit, Night Mode, and Age assurance measures" and they each pay an amount equal to the 30% figure, "with half of the remaining funds tied to YouTube's payment and half tied to TikTok's."Meta also said it expects accrue a legal expense of about $10 billion in Q3 tied to the agreement."For meaningful progress to happen, we urge TikTok and YouTube to join us and state attorneys general in adopting this new standard, to ensure teens use social media in a healthy and responsible way," Meta said.Alphabet and TikTok's parent, ByteDance, didn't immediately reply to requests for comment.)Price: $572.80, Change: $+2.75, Percent Change: +0.48%

$META
Asia Markets

Update: US Equity Futures Mostly Flat Pre-Bell as Traders Weigh Inflation Data, Await Nvidia Results

(Updates with economic data, recent oil price changes, world markets' overview, and corporate stock movements.)US equity futures were mostly flat pre-bell Wednesday as traders awaited a key inflation report and AI bellwether Nvidia's (NVDA) financial results.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were flat, and Nasdaq futures were 0.2% lower.President Donald Trump said that the US Navy has told him that all mines have been removed or detonated within the Strait of Hormuz. "There is a Zero Tolerance policy on mine placement in full force and effect," Trump said in a post on Truth Social.Nvidia is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $2.09 per share on revenue of $92.27 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.3% at $85.25 per barrel and US West Texas Intermediate crude 2.5% lower at $80.27 per barrel.The July core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, increased to 0.2% from a pace of 0.1% in the prior month and the expected 0.2% gain in estimates compiled by Bloomberg. Durable goods new orders rose 1.1% in July after a 0.5% gain in the prior month, compared with expectations for a 0.5% increase.Personal income rose by 0.4% in July following June's 0.2% gain, larger than the expected 0.2% gain. The second estimate for Q2 GDP came in at 1.5%, unchanged from the advance print and meeting expectations.Federal Reserve Richmond President Thomas Barkin is slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng ended 0.6% higher, and China's Shanghai Composite finished 0.6% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Intuit (INTU) shares fell 9.9% after the company's outlook for fiscal Q1 and the full financial year missed market expectations. Boston Scientific (BSX) stock was down 5.8% after the company said it has identified a cybersecurity incident that affected certain IT systems and led to global disruption in operations.On the winning side, Meta Platforms (META) shares rose 1.9% after Bloomberg reported that the company and 29 state attorneys general have discussed a potential settlement of a case in which the technology giant is accused of designing Facebook and Instagram to addict teenagers. Uber Technologies (UBER) stock was up 1.1% after multiple media outlets reported that the company is launching a new safety feature that allows linked parents and guardians to view a live video stream of their teenager's ride. Summit Therapeutics (SMMT) shares were 14% higher after the company said its partner Akeso reported "positive" results from a phase 3 trial of ivonescimab plus chemotherapy, compared with durvalumab plus chemotherapy as a first-line treatment of advanced biliary tract cancer.

Dow JonesNasdaq CompositeS&P 500$BSX$INTU$META$NVDA$SMMT$UBER
Sectors

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks advanced late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.4%.The Philadelphia Semiconductor index climbed 1%.In corporate news, SpaceX (SPCX) will invest $100 billion to build its largest launch facility in Vermilion Parish, Louisiana, which will play a key role in ramping up Starship missions, the company and the state said in a joint release. SpaceX shares rose 2.9%.Meta (META) is preparing to launch a consumer AI agent platform in the coming weeks as it expands its push into agentic AI, The Information reported, citing internal company documents. Meta shares added 1.9%.Amazon.com-backed (AMZN) Anthropic is likely to project a total addressable market of more than $30 trillion in its upcoming IPO filing, exceeding the $28.5 trillion that SpaceX cited in its offering, The Wall Street Journal reported. Amazon shares were down 0.5%.Alphabet's (GOOGL) Google Cloud said Tuesday it has launched a new agentic AI service for financial professionals, with Deutsche Bank (DB) and CME (CME) among those firms granted early access. Alphabet shares were shedding 0.3%.

$AMZN$GOOGL$META$SPCX
Sectors

Sector Update: Tech Stocks Rise Tuesday Afternoon

Tech stocks advanced Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.5%.The Philadelphia Semiconductor index climbed 1.3%.In corporate news, SpaceX (SPCX) plans to launch its first AI satellites run by Nvidia (NVDA) chips in Q4 2027, with the network expected to reach significant scale in 2028, Chief Executive Elon Musk said on X. Separately, Lambda, an AI cloud-computing provider backed by Nvidia, is in talks to raise as much as $3 billion in a funding round that could position it for an initial public offering next year, Bloomberg reported. SpaceX shares rose 2.6%, and Nvidia added 1.8%.Meta (META) is preparing to launch a consumer AI agent platform in the coming weeks as it expands its push into agentic AI, The Information reported, citing internal company documents. Meta shares added 1.1%.Alphabet's (GOOGL) Google Cloud said Tuesday it has launched a new agentic AI service for financial professionals, with Deutsche Bank (DB) and CME (CME) among those firms granted early access. Alphabet shares were shedding 0.4%.Apple (AAPL) said Tuesday it is launching its new Mac mini computers with M6 and M5 Pro chips. Apple also said it is introducing the M5 Ultra chip in its new Mac Studio computer. Apple shares were down 0.2%.

$AAPL$GOOGL$META$NVDA$SPCX
Equities

Social Buzz: Wallstreetbets Stocks Mostly Advancing Premarket Tuesday; Nebius Group, Sandisk to Advance

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly advancing hours before Tuesday's opening bell.Nebius Group (NBIS) was up 5.2% in premarket activity, following a 3.8% decline from Monday's session.Sandisk (SNDK) rose by 4.1% pre-bell, swinging from a 6.5% fall at Monday's close.Micron Technology (MU) advanced by 2.8% premarket, after a 5.8% decline from the previous session.Moderna (MRNA) was up 1.9% in pre-bell activity, after closing Monday with a 4.3% fall.Nvidia (NVDA) was 1.3% higher hours before market open, swinging from a 2.9% fall at Monday's close.Meta Platforms (META) rose by 1.1% pre-bell, following a 1.7% rise from the previous session.DTE Energy (DTE) was up 0.2% in premarket activity, after a 0.3% increase from Monday's session.Bucking the trend, Strategy (MSTR) was down 0.7% in pre-bell hours, following a 2.8% increase from the previous session.

$DTE$META$MRNA$MSTR$MU$NBIS$NVDA$SNDK
Sectors

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.4%.The Philadelphia Semiconductor index shed 0.4%.In sector news, Nscale is looking to raise up to $3 billion in its US initial public offering, Bloomberg reported. The data center developer's IPO could take place as soon as September, the report said.In corporate news, Apple (AAPL) is shedding about 200 jobs in teams responsible for the Siri digital assistant and the Vision Pro headset, Bloomberg reported. Separately, Apple paid $17 billion in taxes to Ireland in 2025, 40% of its worldwide total and driven significantly by an EU court order in 2024 requiring the tech giant to pay 13 billion euros ($15.19 billion) in back taxes, the Financial Times reported. Apple shares were down 0.5%.Meta (META), Alphabet's (GOOGL) Google and Snap (SNAP) face one fewer teen social media addiction lawsuit after a 15-year-old New Jersey girl dropped her claims against the companies ahead of an October trial, Reuters reported Friday, citing a court filing. Reuters reported that the plaintiff, identified in court records as P. M-Y., had alleged that the companies' platforms contributed to her social media addiction, depression and self-harm. Meta shares were up 0.7%, Alphabet added 1.3%, and Snap was shedding 0.5%.Broadcom (AVGO) is in talks with a group of lenders to raise as much as $100 billion in debt for an AI chip financing deal, Bloomberg reported. Broadcom shares were up 1.2%.Nvidia (NVDA) is in advanced talks to invest in data center power developer Cloverleaf Infrastructure, with an announcement possible coming as soon as Friday, The Wall Street Journal reported. Separately, Nvidia has agreed to pay $6 billion to license AI model-development software from startup Poolside and hire 109 employees involved in developing its Laguna AI model, The Information reported late Thursday, citing a report by the newsletter Newcomer. Nvidia shares were down 0.8%.

$AAPL$AVGO$GOOGL$META$NVDA$SNAP
Sectors

Sector Update: Tech

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.4%.The Philadelphia Semiconductor index shed 0.4%.In corporate news, Meta (META), Alphabet's (GOOGL) Google and Snap (SNAP) face one fewer teen social media addiction lawsuit after a 15-year-old New Jersey girl dropped her claims against the companies ahead of an October trial, Reuters reported Friday, citing a court filing. Reuters reported that the plaintiff, identified in court records as P. M-Y., had alleged that the companies' platforms contributed to her social media addiction, depression and self-harm. Meta shares were up 0.7%, Alphabet added 1.3%, and Snap was shedding 1.5%.

$GOOGL$META$SNAP
Wire

Update: Market Chatter: Meta Platforms, Google, Snap See Teen Dismiss Lawsuit Ahead of October Trial

(Updated with response from Meta spokesperson in the seventh paragraph.)Meta Platforms (META), Alphabet's (GOOGL) Google and Snap (SNAP) face one fewer teen social media addiction lawsuit after a 15-year-old New Jersey girl dropped her claims against the companies ahead of an October trial, Reuters reported Friday, citing a court filing.Reuters reported that the plaintiff, identified in court records as P. M-Y., had alleged that the companies' platforms contributed to her social media addiction, depression and self-harm.The companies said the claims were dismissed without payment, according to the report.Two other teen cases against the same companies remain set for October trials, while Meta, Google and Snap have denied the allegations and said they have measures in place to protect young users, Reuters added.In a statement emailed to, a Snap spokesperson said, "We remain focused on strengthening the safeguards, tools, and educational resources that support the safety, privacy, and well-being of all Snapchatters."Google spokesperson Jose Castaneda said, "The plaintiff voluntarily withdrew their claims against YouTube without payment, affirming our longstanding position that we provide safe, age-appropriate experiences and strong parental controls for young people and families."Meta Platforms, in a statement to, said, "Another plaintiff in the personal injury trials has dropped her case against Meta after settling with TikTok. Half of all Meta's scheduled trials have now ended in dismissal, with the company paying nothing. This plaintiff had a significant mental health condition that pre-dated her use of social media, and it's clear that many of these cases fit the same pattern. We'll continue defending ourselves vigorously in court."(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $553.14, Change: $+7.31, Percent Change: +1.34%

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