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Tech Across the Globe

Cloud boom: Microsoft reported strong quarterly revenue on record AI spending and said its Azure cloud unit produced more than $75 billion in sales in the fiscal year, the first time the software company has disclosed a revenue figure for the business.

Builder.ai downfall: A look at one of the most spectacular collapses of the AI era — how London-based startup Builder.ai went from a $1.5 billion valuation and the plaudits of investors to allegations of faking revenue and bankruptcy.

YouTube is social media: Australia said Google’s YouTube will be included in a law banning social media for children younger than 16. The ban is scheduled to take effect Dec. 10.

Revalued

Prosus has started selling down its stake in Meituan, a holding valued at more than $4 billion, after the Chinese food-delivery operator announced plans to start expanding in some of Prosus’ territories such as Brazil, people familiar with the matter said.

Must Read

Rakuten launched its version of an AI assistant, but it’s more than just a shopping helper for the company’s e-commerce platform, reports Min Jeong Lee in today’s Tech In Depth. The company, which operates more than 70 services including banking, securities trading and travel, envisions its AI assistant as a helper for consumers in all areas, she writes.

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This Week in Cyber Bulletin

President Donald Trump’s choice to run the top US cybersecurity agency is close to gaining approval and taking the post amid a series of attacks against companies and agencies attributed to foreign hackers, Jake Bleiberg reports in this week’s Cyber Bulletin. The official, Sean Plankey, is viewed by cybersecurity professionals as a capable leader, he writes.

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