SoftBank Vision Fund posts record $27 billion loss as tech stocks plummet
SoftBank Founder Masayoshi Son said the company would be more "conservative when it comes to the pace of new investments" as it goes into a "defense" position.
CNBC Technology
Bitcoin drops below $27,000 level as crypto sell-off continues
The price of bitcoin briefly turned positive on Wednesday after falling below the $30,000 for the second time this week.
Apple is no longer the world's most valuable company
Energy prices and stocks have been rising as investors sell off equities in several industries, including technology.
Online grocery delivery platform Instacart confidentially files for IPO in the U.S.
Grocery delivery platform Instacart said late Wednesday it has filed a draft registration statement with the SEC, paving the way for the firm to list its shares.
Rivian stock jumps as the EV automaker says demand remains high and production is on track
Electric vehicle maker Rivian Automotive on Wednesday maintained its 2022 production target, saying it's still on track to build 25,000 vehicles this year.
Disney may need to tell investors a new story as company warns of softer streaming growth
Disney prides itself on storytelling, but it may need to tell a new story to investors.
Lina Khan's FTC can finally move forward with its progressive agenda after Senate confirms fifth commissioner
The Senate confirmed President Joe Biden's nominee to the Federal Trade Commission, Alvaro Bedoya, breaking a deadlock between Democrats and Republicans.
Controversial stablecoin UST — which is meant to be pegged to the dollar — plummets below 30 cents
UST, a so-called stablecoin that's meant to maintain a $1 peg, was trading at less than 40 cents Wednesday.
Coinbase shares dive 26% after revenue miss
The company said revenue fell 27% from the year-ago period, and usage on Coinbase declined from the fourth quarter.
Roblox stock closes up after initial earnings dip
Roblox reported fewer users in its first quarter than Wall Street expected.
Google teases smart glasses prototype that translates languages in real time
Essentially, it looks as if the glasses will transcribe speech in real time and display them as subtitles.
Google announces its first smartwatch, a new budget phone and more
It will be released this fall along with the Pixel 7.
Europe has a plan to fight online child abuse. Critics fear it may erode privacy
Proposed EU legislation will require tech companies to screen their platforms for child sexual abuse material.
Airbnb just did its biggest redesign in a decade — here's what's new
The features, announced during its virtual summer event, include a new way to search, splitting stays between homes and guest protections.
Tech is hitting the brakes on hiring even as other industries keep adding jobs
Several tech companies have recently announced hiring freezes and layoffs. But it's not necessarily a bellwether for the broader economy.
VW is looking to bring back the Scout brand as an electric vehicle
Volkswagen confirmed to CNBC that its supervisory board would vote on the proposals on Wednesday.
Bitcoin investors are panicking as a controversial crypto experiment unravels
Investors in bitcoin are in panic mode as the controversial terraUSD stablecoin slips further from its intended $1 peg.
London is looking to tap the deep pockets of Silicon Valley
Sadiq Khan, the mayor of London, traveled to California to try to convince Silicon Valley tech leaders to invest more money in the U.K. capital.
40% of bitcoin investors are now underwater, new data shows
Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode.
Coinbase revenue drops 27% from a year ago, stock slides
Coinbase earnings missed analyst estimates and shares fell as much as 19% in extended trading.
Business news related to the technology industry, including Apple, Amazon, Microsoft, Google, and Facebook, plus consumer electronics, start-ups, cryptocurrency, media, advertising, streaming, venture capital, antitrust and regulation.
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