Samsung Electronics reported an approximately 20 percent increase in operating profit for the latest quarter from a year earlier, resulting in a record high profit of about $15 billion. But that sudden lift may not last. According to industry experts, the higher numbers are due to increased demand for memory chips for use in data centers and smartphones. Samsung and other chipmakers invested to expand production, but now demand for smartphones (and other consumer electronics) is reaching a plateau. Read more

Google launched a global competition, the AI Impact Challenge, to encourage the development of artificial intelligence for positive uses. Revealed at the company’s AI for Social Good event at its Sunnyvale offices, the competition aims to reach out to nonprofits, universities and other groups outside of corporate Silicon Valley, to help solve social issues. The initiative, overseen by Google’s philanthropic arm, Google.org, will award up to $25 million to numerous parties to “help transform the best ideas into action.” Read more

Snapchat currently touts 5 million users in the United Kingdom who watch Shows on the social platform that are produced by its U.S. publishing partners. As part of its efforts to better compete with popular services such as Google’s YouTube and Instagram’s IGTV for the growing number of online and mobile video fans, Snap Inc. is adding 25 new series from 17 U.K. content producers. The content will largely target millennials. The move highlights Snap’s strategy of leveraging more TV-style content to grow engagement in specific markets and increase revenue. Read more

Facebook recorded lower Q3 revenue than expected, the result said chief executive Mark Zuckerberg of “an unsteady transition” from News to more popular but less profitable Stories, which allows users to build photo/video montages that disappear after 24 hours. The company relayed that the transition’s early stage will be marked by higher costs, including more investment in 2019, and continued slow growth. Investors took the news in stride, unlike the July earnings report that resulted in a stock price plummet. Read more

According to Rockstar Games, its “Red Dead Redemption 2” earned more than $725 million in global retail sales in its first three days on the market, breaking several records. The company deemed it “the biggest opening weekend in the history of entertainment,” surpassing the $640 million raked in by “Avengers: Infinity War,” which earned more than $640 million in its opening weekend. But “Red Dead Redemption 2” doesn’t top Rockstar Games’ own “Grand Theft Auto V,” which pulled in more than $1 billion in its first three days. Read more