DUOLINGO BEATS Q1 ESTIMATES, STOCK DROPS ON SLOWER OUTLOOK
■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE
Duolingo exceeded Q1 revenue expectations with $292M in sales, up 27% year-over-year, but signaled slower growth ahead. The stock fell 12% after hours despite the beat.
■ MORE FROM THE BUSINESS DESK
Jio Platforms, India's largest carrier backed by Meta and Google, has received regulatory approval to launch the country's biggest-ever initial public offering worth approximately $4 billion.
Neocloud Lambda has secured $1 billion in private debt financing to purchase Nvidia AI chips for resale to Microsoft. The funding marks the latest major investment in AI infrastructure as demand for chips continues to outpace supply.
French quantum computing company Pasqal Holding SA went public Friday via SPAC merger, with shares closing up 95% on their first trading day—a strong performance compared to other recent quantum computing debuts.
A test of 100 firms revealed widespread confusion over California's legal data access rights, with many companies deleting information instead of providing it to requesters.