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| Baidu’s beat: Chinese internet giant Baidu reported a 3% rise in quarterly revenue, surprising analysts who had expected it to shrink around 1.5%. A costly hack: British retailer Marks & Spencer said a cyberattack last month will cause it to take a £300 million ($403 million) hit to operating profit this fiscal year. Amazon’s calm: Amazon Chief Executive Officer Andy Jassy said the online retailer hasn’t seen any meaningful reduction in consumer spending or an increase in prices as a result of tariffs introduced by US President Donald Trump earlier this year. | |
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| Chatbot Arena, which started as an academic project ranking AI tools, is now a company, called LMArena, and it just received $100 million in seed funding from Andreessen Horowitz and others. The round values LMArena at $600 million, according to people familiar with the matter. | |
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| Elon Musk said he is going to pull back from his political activities and focus more on Tesla and SpaceX. But he left out any mention of X, his social network, reports Kurt Wagner in today’s Tech In Depth. That raises questions about X’s future after Musk turned the platform into his own political megaphone, he writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. | |
This Week In Cyber Bulletin | |
| Microsoft joined law enforcement to thwart a notorious hacking tool known as Lumma that helped cybercriminals steal passwords, launch ransomware attacks and nab cryptocurrency, Jeff Stone reports in today’s Cyber Bulletin. Sign up for the Cyber Bulletin newsletter for exclusive coverage inside the shadow world of hackers and cyber-espionage ‒ and how businesses are playing defense. | |
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