Reddit Inc. shares jumped 10% in extended trading after its first earnings report as a public company. Revenue increased 48% to $243 million, exceeding estimates of $211.9 million. Improvements to its advertising system contributed to the strong quarterly sales.

Source: https://www.bloomberg.com/technology

Match Group Inc. reported a 9% decline in paying Tinder users to under 10 million in Q1, missing analyst projections of 9.8 million. The company attributed the decline to pricing changes and a falloff in active users, leading to a 5% drop in shares.

Source: https://www.bloomberg.com/technology

Source: https://www.bloomberg.com/technology

Source: https://www.bloomberg.com/technology

Former US Treasury Secretary Steven Mnuchin expressed interest in purchasing TikTok's US operations from its Chinese owner. He believes the app's video recommendation technology can be replicated and plans to rebuild the technology if he acquires the company.

Source: https://www.bloomberg.com/technology

The Monetary Authority of Singapore (MAS) has asked DBS Group Holdings Ltd. to investigate recent disruptions to its internet banking and payment services. The disruptions occurred on May 2, following a six-month ban by the central bank over similar glitches.

Source: https://www.bloomberg.com/technology

Saudi Arabia's Public Investment Fund has launched a $100 billion fund to invest in semiconductor and artificial intelligence technology. The fund's CEO, Amit Midha, stated that if the US requests, the country will divest from China to maintain separate manufacturing and supply chains.

Source: https://www.bloomberg.com/technology

Chinese stocks' recent rally may lose steam unless tech giants Tencent Holdings, Alibaba Group, JD.com, and Baidu deliver strong earnings next week. The four companies, representing over a quarter of the MSCI China gauge, will publish results, with Tencent and Alibaba reporting on Tuesday, followed by JD.com and Baidu two days later.

Source: https://www.bloomberg.com/technology

Getir, a Turkish rapid grocery app founded by Nazim Salur in 2015, will exit its remaining international operations, marking the end of its nearly decade-long dream to build a global delivery powerhouse.

Source: https://www.bloomberg.com/technology

Sea Ltd. founder Forrest Li warns of a difficult transition to AI, comparing it to the PC and mobile revolution. He emphasizes the transformative technology could be a bigger challenge, but no specific plans for AI development were outlined.

Source: https://www.bloomberg.com/technology