Meta throws top dollar at AI talent

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Tech Across the Globe

iPhone protection: Apple introduced a new insurance plan, letting customers bundle protection coverage for as many as three separate devices, part of an effort to drive further gains in subscription revenue.

Nokia warning: The Finnish telecom company cut its profit guidance, citing a weaker US dollar and the cost of tariffs. Nokia shares fell as much as 8.2% on Wednesday.

IBM's results: A Wall Street favorite this year, Big Blue disappointed investors when it reported quarterly software sales that fell short of analysts' estimates. After decades of effort to revitalize the company and end its reliance on computer hardware, IBM now generates more than 40% of its annual income from software.

Revalued

Vanta Inc. reached a valuation of $4.15 billion, a bump of almost $2 billion from a year ago, in a new $150 million funding round. The interest in the compliance technology startup signaled investors' enthusiasm for companies that are using AI to streamline complicated corporate tasks.

Must Read

Meta Platforms, led by Mark Zuckerberg, has triggered a gold rush for talented AI researchers and engineers, Kurt Wagner reports in today's Tech In Depth. While Meta and its Big Tech rivals are spending billions on equipment to build and run AI, Wagner wonders whether it's rational, as Zuckerberg says, to pay multimillion-dollar compensation packages to researchers.

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This Week in Game On

As Nintendo's Switch 2 flies off shelves in the US faster than any other video-game console in American history, there's now a must-have game to play on it, Jason Schreier reports in this week's Game On. Donkey Kong Bananza has been described by reviewers as a "masterpiece" and "one of the best Nintendo games in recent years," he writes.

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