Meta Platforms revenue was up 19 percent to $40.6 billion in Q3 compared to the same period one year earlier. Profit rose to $15.7 billion — a 35 percent increase from 2023. The company believes that its years of investments in adtech, artificial intelligence and the metaverse are starting to pay off. In Q3, Meta reported $23.2 billion in expenses and capital expenditures of $9.2 billion. And the company isn’t taking its foot off the accelerator, having increased its annual spending forecast by $1 billion to a minimum of $38 billion. Additionally, Meta’s advertising revenue for Q3 was just a tick under its high-end spend projection of $40 billion. Read more

Propelled by increasing demand for artificial intelligence services, Microsoft cloud solutions, which includes the Azure platform, was the star of the quarter, bringing in $38.9 billion for 22 percent growth year-over-year. Revenue was $65.6 billion, up 16 percent, while profit increased by 11 percent, to $24.7 billion. While Microsoft financials don’t break out AI — now embedded across numerous products — Chairman and CEO Satya Nadella says AI “is on track to surpass an annual revenue run rate of $10 billion” by December 31, “making it the fastest business in our history to reach this milestone.” Read more

Microsoft is previewing GitHub Copilot for Azure in an ambitious expansion of its AI app development toolkit that some say could fundamentally change how developers build software for the AI era. The new premise is that switching from one software to another, as developers often do, should be seamless, not disruptive — sort of a real-time language translation and integration system for code. To fend off the move by Microsoft, AWS announced it is making its Q Developer AI code assistant available as an inline chat add-on accessible from IDEs like JetBrains and Microsoft’s own Visual Studio. Read more

Yahoo News has signed up to use San Jose-based cybersecurity company McAfee’s deepfake image detection technology. The scalable McAfee system can “quickly identify images that may have been produced or modified using AI, including deepfake images,” flagging them for the Yahoo News editorial standards team for human review. The standards team then “determines whether the flagged images meet the platform’s editorial guidelines.” The partnership provides news aggregator Yahoo with an extra layer of protection as it deals with a large network of global publishers in addition to policing its original content. Read more

The first big play from Disney following February’s $1.5 billion investment in Epic Games is “ESPN Football Island,” available now as part of the “Fortnite” social gaming platform. The new sports-themed experience is designed to get football in front of younger fans. Games include navigating an obstacle course and “high-intensity box fights,” with the main action centering on “Touchdown Rush,” where players “team up with friends and enter the stadium to navigate rocky terrain, a lava moat, and the other team,” according to ESPN. The experience includes participation from ESPN announcers and will soon feature regular updates highlighting the current season. Read more