Samsung Electronics saw net profit rise sixfold in Q2, surging 46 percent — to $7.11 billion — compared to Q1. The buoyant results for the South Korean electronics manufacturer were driven by its semiconductor business and the demand for advanced chips needed to fuel the global boom in artificial intelligence. Although the company is the world’s top smartphone manufacturer, more than half of the quarter’s operating profit came from chip-making for the latest reporting period. Revenue for the April through June quarter resulted in a 23.42 percent increase year-over-year, while profit soared 1,458 percent. Read more

Qualcomm revenue increased 11 percent to $9.39 billion for the second quarter, beating analyst expectations. Its core business, processor sales for smartphones and other mobile devices, was up 12 percent. Overall, profit was up by 26 percent year-over-year for the period ending in June. The period benefited from the launch of PC chips in the company’s Snapdragon X Series optimized for artificial intelligence. President and CEO Cristiano Amon called the move into PCs and laptops “a significant milestone in our transformation from a communications company to a leading intelligent computing company.” Read more

Comscore announced this week it is rolling out comprehensive audience measurement and cross-platform video insights for YouTube traffic across desktop and mobile devices and connected TVs in the U.S. “This new capability enhances Comscore’s existing reporting for YouTube video traffic on desktop and mobile browsers, as well as in mobile apps,” the company explains. Comscore clients will now have access to Traffic Sharing in YouTube CTV measurement data, which includes viewership info about content distributed on YouTube to content creators. Data should help advertisers evaluate ad campaigns that incorporate YouTube. Read more

Graphic design company Canva announced it is acquiring fellow Australian startup Leonardo AI with plans to have Leonardo’s 120 employees, including executives, join the Canva AI team. Financial terms of the deal were not disclosed. Sydney-based Leonardo has been gaining attention for its advanced generative AI platform that helps users create images and art based on the open-source Stable Diffusion model developed by Stability AI. The Leonardo team claims its offering is different than other AI art platforms since it provides users with more control. Users can experiment with text prompts and quick sketches as Leonardo.ai creates photorealistic images in real time. Read more

Two landmark bills designed to bolster online safety for children — the Kids Online Safety Act (KOSA) and the Children and Teens’ Online Privacy Protection Act (COPPA 2.0) — were overwhelmingly approved by the U.S. Senate on Tuesday in bipartisan 91-3 votes. If approved by the House, the legislation would introduce new rules regarding what tech companies can offer to minors and how those firms use and share children’s data. The three senators who voted against the bills cited concerns that the regulations could stifle free speech, open the door to government censorship, and fail to adequately address the greatest threats to children online. Read more