DoorDash prepares for big competitors

The planned acquisition of Instacart may help fend off inroads from Amazon and Walmart ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Top Stories Microsoft bond deal: The software company drew $115 billion in demand for its $25 billion bond offering. It’s a test of the market’s appetite for financing AI. Huang responds: Nvidia Chief Executive Officer Jensen Huang said his dealings with Megaspeed International were “normal and not unusual” after the New York Times reported an official of the Singapore company is under investigation for spying on behalf of China. Megaspeed is the largest Southeast Asian buyer of Nvidia’s chips. Amazon rocked: The e-commerce giant disappointed investors despite an earnings report that showed cloud sales growth increased for a sixth consecutive quarter. The main online business struggled. Must Reads Google Erases a Record $500 Billion as AI Eats Into Sales Alphabet Inc.’s shares fell more than 13%, erasing more than $500 billion in its biggest-ever market plunge, after the company reported disappointing search and advertising sales that reinforced investor concerns about AI’s threat to its core business. Intel Plunges After PC Slump and Supply Snags Hurt Outlook Intel Corp. plunged in late trading after its revenue forecast missed analysts’ estimates, hurt by sputtering demand for PC processors and supply-chain problems with its lucrative data center components. Nscale’s Unproven CEO Braves AI Turmoil in Bid for $30 Billion IPO Sheryl Sandberg says the 32-year-old executive reminds her of Mark Zuckerberg. Josh Payne must now take his startup public at a tumultuous moment for the AI industry.  Market Snapshot NVIDIA Corp $213.66 -0.8% Microsoft Corp $530.14 -0.2% Amazon.com Inc $243.79 -4.2% Market data as of 08:19 PM ET. Data is subject to provider delays. Your watchlist Beyond The Brief DoorDash’s proposed $17 billion acquisition of Instacart will give it a relationship with more food stores and new consumers in the fast-growing market of grocery delivery, Natalie Lung reports in today’s Tech In Depth. But the true value of the deal, she writes, is bolstering DoorDash’s defenses to fend off the similar grocery ambitions of Amazon and Walmart, two retail giants. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. This Week In Soundbite The podcast industry thrust itself into the 2024 presidential election in a big way, creating expectations for a similarly important role in the congressional midterm elections coming next week, Ashley Carman reports in this week’s Soundbite. While the Trump Republican White House has kept its interest in speaking with podcast hosts, and Democratic candidates also have upped their podcast appearance, the midterms haven’t yielded many signature moments or major interviews, she writes. Sign up for the Soundbite newsletter to get exclusive reporting on podcasting, the music industry and audio trends from Ashley Carman. Before You Go... AI Industry’s Gamble on Trump Crashes Into New Political Reality The alliance between Silicon Valley and the White House is at risk of unraveling in the face of rising AI backlash Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |