Meta Platforms Inc.

Meta Platforms faces a federal trial in California where attorneys general from several states are seeking financial damages and operational changes for Facebook and Instagram. The lawsuit accuses the company of knowingly designing addictive features that contribute to youth mental health issues and illegally collecting data on children under 13 without parental consent. U.S. District Judge Yvonne Gonzalez Rogers will oversee the proceedings, which are expected to last six to eight weeks.

Meta Platforms is facing a pivotal federal trial in Oakland over child safety and privacy concerns. Attorneys general from multiple states are seeking financial damages and mandated operational changes regarding its platforms, Facebook and Instagram. The lawsuit accuses the company of collecting data on children under 13 without parental consent and deliberately designing features that contribute to youth addiction.

A pivotal federal trial for Meta Platforms concerning child harms is set to begin. Opening arguments for the case will take place in a California federal court.

Opening arguments for a pivotal federal trial against Meta are set to begin in California, brought by attorneys general from California, Colorado, Kentucky, and New Jersey. The lawsuit accuses the social media giant of contributing to youth mental health crises and violating federal law by collecting data on children under 13 without parental consent. Oversight will be provided by U.S. District Judge Yvonne Gonzalez Rogers.

Opening arguments are set to begin in a federal trial against Meta Platforms, representing 29 states seeking financial damages for child harms. Attorneys general from California, Colorado, Kentucky, and New Jersey accuse the company of deliberately designing addictive features contributing to youth mental health crises and illegally collecting data on children under 13. U.S. District Judge Yvonne Gonzalez Rogers in Oakland will oversee proceedings where executives are expected to testify.

Alibaba's Qwen open-weight models achieved over 3 billion global downloads in six months, establishing it as the world’s No. 1 AI model by surpassing Meta and Google according to Hugging Face Inc. This rise indicates that Chinese developers are building robust ecosystems and gaining traction against US rivals like OpenAI and Anthropic PBC, despite facing export controls.

Mark Zuckerberg published a 6,500-word essay outlining an AI-powered future where everyone can have personalized, all-knowing AI agents, while advocating for open-source technology to prevent concentrated control of superintelligence. He also announced that Meta released new open-source AI models, Muse Glimmer and Muse Spark 1.2. Critics, however, warned about the inherent risks of rapid AI development following recent hacking incidents.

Meta Platforms CEO Mark Zuckerberg has published a response addressing concerns regarding artificial intelligence. In the essay, he asserts that AI is beneficial for both the economy and society.

Meta's CEO, Mark Zuckerberg, apologized to the Indian government for child sexual abuse material and operational errors on the company's platforms, including deepfake content. The apology was conveyed during a meeting with Meta executives, as reported by local TV channels and Moneycontrol.

Microsoft's stock surged 15.5% for its best day in nearly 18 years after reporting stronger-than-expected profits, driven by growth in its Azure cloud business and AI adoption. The S&P 500, Dow Jones Industrial Average, and Nasdaq all rebounded sharply, with AI-related stocks like Micron Technology and Advanced Micro Devices also rising. However, Meta Platforms fell 8% due to weaker profits and higher AI investment forecasts.

Hyderabad police have registered a case against the head of Meta India over Facebook videos depicting Prime Minister Narendra Modi in an abusive manner. The case adds to tensions between Meta and India's government, following an incident where Facebook briefly restricted a Modi post, prompting an investigation by the IT ministry.

Microsoft's strong quarterly profit and AI growth led a stock market rebound, with the S&P 500 and Nasdaq rising significantly. However, bond markets remained cautious due to inflation concerns, as the Federal Reserve showed no immediate plans to adjust interest rates.

U.S. stocks rebounded as Microsoft surged 15.1% on stronger-than-expected profits and cautious AI investment plans. The S&P 500 gained 1.1%, the Nasdaq rose 2.3%, and tech-related companies like Micron Technology and Lam Research saw significant gains. Bond markets remained wary of inflation, with Treasury yields fluctuating after Federal Reserve chairman Kevin Warsh emphasized the central bank's commitment to reducing inflation to 2%.

U.S. stocks rebounded as Microsoft and AI-related companies surged, with Microsoft reporting stronger-than-expected profits and no major AI spending increase. The S&P 500 recovered most of its prior day's losses, while AI stocks like Micron Technology and Advanced Micro Devices saw significant gains.

Meta Platforms has $279 billion in future lease commitments for AI data centers, a 53% increase from last quarter, with $68 billion added in July alone. U.S. unemployment claims rose slightly to 197,000 but remain low, indicating a resilient job market. CleanPlay's SuperPower service funds solar projects through gamer subscriptions, aiming to leverage the gaming community for renewable energy investment.

U.S. stocks rebounded as Microsoft's strong quarterly profit and gains in chip stocks offset prior-day losses. The S&P 500 rose 0.9%, the Nasdaq jumped 1.8%, and the Dow gained 0.5%, driven by Microsoft's 15.2% surge and rallies in Micron Technology, Lam Research, and AMD.

Chinese tech giants are investing in AI infrastructure and must demonstrate sustainable profits, while global investors are concerned about big tech's AI spending, as seen with Meta Platforms' situation causing market anxiety.

Meta Platforms has increased its influence in India as Gen Z protesters used Instagram to voice concerns against the Modi government. The company's growing clout in the world's largest democracy has drawn scrutiny.

Meta Platforms reported a 14% decline in second-quarter profit to $15.85 billion due to legal expenses and severance costs, despite a 28% revenue increase to $60.8 billion. CEO Mark Zuckerberg highlighted AI advancements and user growth, including Instagram reaching 2 billion daily users, but the company faces challenges from rising costs and public scrutiny over social media's impact on youth.

Meta Platforms reported a second-quarter profit decline despite revenue exceeding expectations, primarily due to legal expenses and severance costs from recent layoffs.

Meta Platforms reported a 14% year-over-year decline in second-quarter profit to $15.85 billion due to $2.4 billion in legal expenses and $1.18 billion in severance costs from layoffs. Revenue rose 28% to $60.8 billion, exceeding analyst expectations, but shares fell 4.2% in after-hours trading.

Meta Platforms reported a 14% decline in Q2 profit to $15.85 billion due to legal expenses and severance costs from recent layoffs, despite a 28% revenue increase to $60.8 billion. The company's shares fell 4.2% in after-hours trading, and CEO Mark Zuckerberg highlighted AI's role in driving future growth. Total expenses rose 55% year-over-year to $42.03 billion, including $2.4 billion in legal charges and $1.18 billion in severance.

Meta Platforms reported Q2 earnings of $15.85 billion with $6.18 per share profit, below the expected $7.10. Revenue reached $60.8 billion, surpassing forecasts, and the company expects $61-64 billion in revenue for the current quarter.

Tennessee has filed a lawsuit against Meta Platforms, Inc. in Nashville, alleging the company ignored its own research on the harmful effects of social media on teenagers. The legal action focuses on the impact of Meta's platforms on adolescent well-being.

Liberty University faces a lawsuit alleging it shared students' sensitive data, including prayer requests and grades, with third-party advertisers like Meta, Microsoft, and Alphabet. A federal judge denied the university's motion to dismiss the case, highlighting the privacy concerns over the disclosure of such information.

BlackRock is selling bonds tied to a Meta data center project in Texas, which rallied in early trading before pricing, indicating stronger-than-expected demand. The $12.3 billion debt deal suggests robust market interest in the securities.

Tennessee Attorney General Jonathan Skrmetti is set to deliver opening arguments in the state’s trial against Meta Platforms, Inc. in Nashville. Tennessee is one of 42 states suing Meta, alleging its Instagram platform is designed to be addictive and harmful to young users, causing mental health issues like depression and anxiety.

Alphabet Inc. shares fell over 7% after reporting negative free cash flow and increased 2026 capital expenditures, signaling a market shift against high AI spending. Other tech giants like Microsoft and Meta also face investor skepticism as capital expenditures rise, with the Magnificent Seven index dropping 4.8% following Alphabet's report.

Nvidia and Microsoft, along with other tech companies, urged policymakers to support open-weight AI models to maintain US technological leadership. The coalition highlighted the importance of open models for accessibility and innovation, responding to recent Chinese advancements like Moonshot AI's Kimi K3. The letter emphasized building an open AI ecosystem to drive global adoption and sales of hardware like AI chips.

AMD will sell tens of billions in AI servers to Anthropic and invest up to $5 billion, strengthening its position against Nvidia. The deal includes AMD's Instinct MI450 chips, with Anthropic using them for computing capacity and potential cloud leases.

Federal Reserve Chair Kevin Warsh emphasized the Fed's commitment to reducing inflation but did not indicate future policy moves. The Fed's committee is divided on whether to raise rates by year-end, with inflation currently at 4.1%. Factors like the Iran war driving oil prices and AI infrastructure investments increasing semiconductor costs are influencing inflation concerns.

Federal Reserve Chair Kevin Warsh emphasized the Fed's commitment to reducing high inflation but did not indicate future policy moves. The Fed's rate-setting committee is divided on whether to raise rates or maintain current levels, with inflation at 4.1% and factors like oil price fluctuations and AI-driven semiconductor demand complicating the outlook.

Federal Reserve Chair Kevin Warsh emphasized the Fed's commitment to reducing high inflation but did not indicate whether rate increases are imminent. The Fed's policy committee remains divided on whether to raise, cut, or maintain rates, with factors like the Iran war's impact on oil prices and AI-driven semiconductor demand influencing inflation projections.

Federal Reserve Chair Kevin Warsh emphasized the Fed's commitment to reducing high inflation but provided no guidance on future rate decisions. A divided Fed committee has mixed expectations about rate changes, while factors like the Iran war, oil prices, and AI-driven semiconductor demand are influencing inflation trends.

Massive AI-driven investments in data centers are increasing costs for memory chips, computer processors, and electricity, leading to higher consumer prices for electronics like laptops and game consoles. Companies such as Apple, Microsoft, Sony, Dell, and HP have raised prices, while economists warn this trend may sustain inflation and prompt the Federal Reserve to raise interest rates.

Massive AI investments in data centers are driving up costs for memory chips, processors, and electricity, leading to higher prices for consumer electronics like laptops and game consoles. This trend is expected to sustain inflationary pressures, potentially prompting the Federal Reserve to raise interest rates later this year.

Massive AI investments by major tech companies are driving up costs for memory chips, consumer electronics, and electricity, contributing to inflation. Apple, Microsoft, Sony, Dell, and HP have raised prices on laptops, consoles, and other products. The Federal Reserve may raise interest rates later this year to address inflationary pressures linked to AI infrastructure expansion.

Meta Platforms Inc. plans to open a $13-billion-plus data centre in Alberta before a neighboring natural gas-fired power plant north of Edmonton becomes operational. The power plant is expected to take four years to start operating, while the data centre is projected to launch in two to three years.

Meta Platforms' AI efforts are driving a comeback after a year-long decline in its $1.7 trillion market-cap shares. Traders are showing renewed interest in the company's stock.

The European Union accused Meta of violating its Digital Services Act by using addictive design features like infinite scrolling and autoplay on Facebook and Instagram. The EU demands Meta disable these features by default and implement changes to protect users' mental health, with potential fines up to 6% of the company's global annual revenue. Meta claims it has already introduced safeguards, such as Teen Accounts, to address concerns.