Google to announce PaLM 2 and multimodal Bard tomorrow

Google to add AI chat and more short videos to search

Leaked Google doc: “we have no moat and neither does OpenAI”

PacWest falls 37%; is this the next bank to go?

Today at 2 PM: markets price in an 87% chance of a 25 bps hike

Biden schedules May 9 meeting to negotiate debt ceiling, as Yellen warns of a potential June 1 default

1. First Republic is bought by JPMorgan, with the assistance of the FDIC

Top stories today: 1. First Republic is bought by JPMorgan, with assistance of the FDIC 2. OpenAI raises $300M at $27-29B valuation 3. Twitter Blue subscribers at 633K / $53M ARR, still ~2% of total revenue

Amazon revenue +9% to $127.4B in Q1, but AWS disappoints

Top stories today: 1. Amazon revenue +9% to $127.4B in Q1, but AWS disappoints 2. Snap revenue -7% to $989M even as DAUs rise by 15% 3. GDP growth slowed to 1.1% in Q1

Meta revenue +3% YoY to $28.6B, operating margin falls from 31% to 25%

Top stories today: 1. Meta revenue +3% YoY to $28.6B, VR revenue -51% 2. UK regulator rejects Microsoft, Activision deal 3. Elon meets with Schumer on AI regulation 4. House passes GOP debt ceiling bill by 217-215 5. Trump 53% x DeSantis 21% in latest Fox poll

First Republic Bank drops 49%, could be shut down on Friday

Top stories today: 1. First Republic Bank drops 49%, could be shut down on Friday 2. Alphabet sales +3% to $69.8B, operating margin falls from 30% to 25% 3. Microsoft sales +7% to $52.9B, operating margin rises from 41% to 42% 4. Hugging Face launches HuggingChat 5. ChatGPT lets users disallow their data to be used for training 6. GOP bill to cut debt-to-GDP from 118% to 106% in 2033

Apple wins Epic Games antitrust appeal, but will likely allow 3rd party app stores anyway

Top stories today: 1. Apple wins Epic Games antitrust appeal 2. Microsoft may stop force-bundling Teams into Office 3. Tucker Carlson fired from Fox for election fraud coverage, lawsuit, messages 4. First Republic loses 41% of deposits in Q1, even as banks inject $30B

Apple to launch a wide range of apps for its headset

Top stories today: 1. Apple aims to launch a wide range of apps for its headset 2. Google moves AI chips team to Google Cloud 3. Twitter blue checkmarks reappear for some celebrities and media companies 4. NBC poll: Trump 46% x DeSantis 31%