Magnificent 7 Weekly Briefing
Big Tech reached new revenue milestones while navigating heavy AI infrastructure costs, major leadership shifts, and intensifying legal scrutiny.
- Amazon exceeded $200 billion in quarterly revenue for the first time, fueled by AWS growth and a shift in advertising budgets, though AI infrastructure spending of $66 billion led to negative free cash flow. 1234
- Google underwent a major AI leadership shuffle as DeepMind's Demis Hassabis transitioned to Chair and Chief Scientist, while long-time pioneer Jeff Dean departed to launch a new startup backed by the company. 5678910
- Meta was ordered by a New Mexico judge to pay $567 million for child safety failings, bringing total penalties in the case to nearly $1 billion amid findings that the company acted as a public nuisance. 111213
- Tesla's business in China saw July deliveries rise 38% year-over-year to over 93,500 units, even as reports circulated that the company might consider divesting its Chinese operations to facilitate a merger with SpaceX. 141516
- Nvidia continues to see extreme demand for its AI GPUs, reportedly outpacing supply 12-to-1, though the company faces pressure from rising DRAM costs and investor concerns regarding multiple copyright lawsuits. 171819
- Apple achieved record India sales exceeding $10 billion and saw global smartphone revenue lead the market, despite production delays for the iPhone 18 caused by a global shortage of memory chips. 2021222324
- Other notable developments include SpaceX partnering with Apple and Google for satellite-to-phone services, Amazon's Zoox receiving approval for paid robotaxi rides, and Microsoft disclosing that a majority of its AI revenue is tied to OpenAI. 252627282930
Sources
- Wall Street rises as ISM beats and Amazon tops $3T
- Amazon Just Crossed $200 Billion in Quarterly Revenue. The Price Tag Is Staggering. - Gadget Review
- Amazon's advertising revenue shows major shift in marketing budgets
- Amazon Earnings: AWS Revenue Surges, Driving Margins Higher, While Capex Is Contained
- Googlers Contend With Exit of AI Pioneer and ‘Most Google Person’
- Google Shifts AI Power to California in Race Against Anthropic, OpenAI
- Google's stock drops after Nobel-winning AI executive steps aside
- What's Behind the A.I. Shake-Up at Google
- Google restructures DeepMind leadership with new appointments
- Four Top Google A.I. Researchers Form New Start-Up
- Meta Ordered to Pay $567 Million in New Mexico Child Safety Case
- Meta ordered to pay almost $1bn over child safety failings
- Meta Ran Ads That Contained AI-Generated Child Sexual Abuse Imagery
- Tesla reports July deliveries of 93,579 units in China, up sharply from last year
- China is Tesla's cash cow, but for how much longer?
- Tesla: Media Reports China Business Divestiture Being Considered | Morningstar UK
- Investors blast Nvidia over avalanche of AI copyright suits
- Nvidia AI GPU demand outpaces supply 12-to-1, boosting revenue prospects
- Nvidia Hikes GPU Prices By Up To 30% in Third Increase of 2026
- Apple's failed push for cheaper CXMT memory shows how bad the RAM crisis has become
- Apple’s India Sales Top $10 Billion on Widening Retail Push
- Apple's IPhone 18 Production Runs Into A Mounting DRAM Shortage
- The Memory Chip Crunch Is Making a Beloved Apple Gadget Harder to Get
- Higher prices lift global smartphone revenue 7% in Q2, Apple leads
- Amazon launches Prime Air drone delivery in the UK
- SpaceX Teams With Apple, Google, and Samsung to Take On Carriers From Space
- SpaceX Teams With Apple, Google, and Samsung to Take On Carriers From Space
- Microsoft's AI sales revenue, most of which is OpenAI-related - disclosure documents
- Amazon Just Landed a Big Win in the Race Against Tesla and Waymo
- No More Free Rides. Feds Clear Amazon-Owned Zoox to Charge for Its Robotaxis