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Microsoft just revealed that OpenAI lost more than $11.5B last quarter

19 hours 24 minutes ago
Satya has also delivered Sam most of the cash he promised

updated  Microsoft reported earnings for the quarter ended Sept. 30 on Wednesday after market close and buried in its financial filings were a couple of passages suggesting that OpenAI suffered a net loss of $11.5 billion or more during the quarter.…

Matt Rosoff

Coinbase CEO Stunt Exposes Prediction Market Vulnerability

19 hours 53 minutes ago
An anonymous reader shares a report: When Coinbase's quarterly earnings call wrapped up Thursday, its chief executive, Brian Armstrong, didn't finish with profit guidance or statements of confidence. He closed it out with a list: "Bitcoin, Ethereum, blockchain, staking and Web3." Those weren't random buzzwords. They were part of an $84,000 betting market [non-paywalled source]. Across prediction market platforms Kalshi and Polymarket, users had wagered on which words would be spoken during the call -- part of a niche category known as mention markets, where the outcome isn't tied to earnings, price moves or sports games, but to what people say in some public forum. With the final analyst question complete, several terms listed in contracts were still unsaid. Armstrong ticked them off one by one. "I was a little distracted because I was tracking the prediction market about what Coinbase will say on their next earnings call," he said in his parting remarks. "I just want to add here the words Bitcoin, Ethereum, blockchain, staking, and Web3 -- to make sure we get those in before the end of the call." The exchange's CEO had just moved a market -- even if only a small one. Mention markets are one of the more curious byproducts of the broader prediction market boom, but also one of the more controversial. Platforms like Kalshi, which is regulated by the Commodity Futures Trading Commission, and Polymarket, which is in the process of returning to the US market, let users wager on the outcomes of real-world events. That can mean elections, policy decisions, or sports -- but also, increasingly, corporate rituals and even common jargon.

Read more of this story at Slashdot.

msmash

A TikTok Interview Triggered a Securities Filing

20 hours 37 minutes ago
Snowflake filed an 8-K with the Securities and Exchange Commission earlier this week after its chief revenue officer gave financial projections in a TikTok video. Mike Gannon told an influencer outside the New York Stock Exchange that the data-storage company would exit the year with just over $4.5 billion in revenue and reach $10 billion in a couple of years. The filing stated that Gannon is not authorized to disclose financial information on behalf of the company and that investors should not rely on his statements. Snowflake reaffirmed its August guidance of $.395 billion for fiscal year 2026. The video appeared on an account called theschoolofhardknockz and drew more than 555,000 views on TikTok. Gannon told the interviewer he watches the videos all the time.

Read more of this story at Slashdot.

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