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Washington Post publisher and CEO Fred Ryan announced on Monday that he will step down from the helm of the newspaper in August.

Ryan, who oversaw the Washington Post for the last nine years soon after Amazon founder Jeff Bezos’ acquisition of it, will instead lead the newly formed nonpartisan Center on Public Civility at the Ronald Reagan Presidential Foundation.

“Jeff is personally providing support for the planning and design phase of this new initiative and supports my decision to make this move,” Ryan told Washington Post staffers in a memo on Monday.

Ryan said that under his leadership, the Post transitioned from a local print newspaper to a global digital publication, and won 13 Pulitzer Prize awards. In a statement, the Washington Post said that it saw multiple years of profitability and a dramatic jump in digital subscriptions under Ryan.

But the Post has not been immune to broader industry struggles. The newspaper has laid off newsroom and business employees in recent years.

A wave of job cuts has hit the media industry recently, in both digital and traditional newsrooms. The industry has also been grappling with the rise of artificial intelligence, and newsrooms, including the Washington Post, have taken action.

In his memo, Ryan said his career transition comes as he has “a deep and growing concern about the decline in civility and respectful dialogue in our political process, on social media platforms and more broadly across our society.”

“Many of us can recall an era when people could disagree without being disagreeable. Political leaders on opposite sides of the aisle could find common ground for the good of the country,” he said in his memo on Monday, explaining his next move. “Today, the decline in civility has become a toxic and corrosive force that threatens our social interactions and weakens the underpinnings of our democracy. I feel a strong sense of urgency about this issue.”

While Ryan will remain as publisher until August, Bezos said Monday in another memo that his “longtime friend and colleague” Patty Stonesifer will join as interim CEO. Stonesifer, an Amazon board member who was the founding CEO of the Bill & Melinda Gates Foundation following executive roles at Microsoft, will lead the search for a new CEO.

Read Fred Ryan’s memo to employees here:

Subject: Message for Washington Post Colleagues

Dear Washington Post Colleagues,

Nine years ago, I was honored to be selected by Jeff Bezos to be Publisher and CEO of The Washington Post. Working with Jeff and the exceptional team at The Post has been an incredible experience and enormously gratifying.

Together, we have accomplished one of the most extraordinary transformations in modern media history. We have evolved from a primarily local print newspaper to become a global digital publication. We’ve added significantly to the tremendous team of journalists, engineers and business experts and have taken The Post through multiple years of profitability. We’ve launched an innovative new technology platform that is powering hundreds of other news sites around the world.

During this time, we have won multiple awards for exceptional journalism, including 13 Pulitzer Prizes, and we’ve twice been named “The World’s Most Innovative Media Company” by Fast Company.

As I have shared in conversations with many of you, I have a deep and growing concern about the decline in civility and respectful dialogue in our political process, on social media platforms and more broadly across our society. Many of us can recall an era when people could disagree without being disagreeable. Political leaders on opposite sides of the aisle could find common ground for the good of the country. Today, the decline in civility has become a toxic and corrosive force that threatens our social interactions and weakens the underpinnings of our democracy. I feel a strong sense of urgency about this issue.

As a result, I have decided to leave my position at The Post to lead the nonpartisan Center on Public Civility that is being launched by the Ronald Reagan Presidential Foundation and Institute. Jeff is personally providing support for the planning and design phase of this new initiative and supports my decision to make this move.

In order to provide advice and counsel during this transition, I have agreed to remain as Publisher of The Washington Post until August 1. Jeff will announce a new interim CEO later today. It is an exceptional individual that I hold in the highest regard.

In the weeks and months ahead, I look forward to spending time with all of my friends and colleagues across The Post to convey my deep appreciation for your many impressive contributions to our success. I am committed to providing my full support as the interim CEO charts the course of this transition and the bright future ahead for The Post.

With my deepest appreciation to each of you,

Fred.

Read Jeff Bezos’ memo here:

Subject: Message for The Washington Post Team

Dear Washington Post Team,

I want to express my deepest gratitude and appreciation to Fred for his dedicated service to The Washington Post as our Publisher and CEO.

Fred has led The Post through a period of innovation, journalistic excellence, and growth. His focus on the intersection of journalism and technology has been of great benefit to readers and has laid the foundation for future growth.

Fred is widely respected for championing press freedom and the protection of journalists. In addition to launching the Press Freedom Partnership, he’s been a relentless force in his devotion to secure the release of journalists who have been wrongly detained and an unwavering voice for accountability from those who do them harm.

I’m deeply grateful to Fred for his leadership and for the friendship that we’ve developed over the years. I look forward to continuing to enjoy both as he works to advance civility in our nation’s discourse.

To ensure we don’t skip a beat, Fred has agreed to remain as Publisher for the next two months, and my longtime friend and colleague Patty Stonesifer will join The Post today as interim CEO. She’ll head up our leadership team, steer us through this important transition, and help me identify the Publisher/CEO who will take the Post forward into the next decade. Patty has built and led great organizations. You’ll soon see for yourself why I admire her. Her skills, judgement, and character all stand out. She also understands the importance of our mission and has a deep respect for the work we do here.

Please join me in thanking Fred as he prepares for his new venture and in welcoming Patty as she assumes the interim CEO role.

Many thanks,

Jeff

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Uber beats on revenue, announces $20 billion stock buyback

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Uber beats on revenue, announces  billion stock buyback

Dara Khosrowshahi, CEO of Uber, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025.

Gerry Miller | CNBC

Uber reported second-quarter results on Wednesday that beat on revenue and announced the authorization of a $20 billion stock buyback.

Here’s how the company did versus analysts’ estimates compiled by LSEG:

  • Earnings per share: 63 cents vs. 63 cents expected.
  • Revenue: $12.65 billion vs. $12.46 billion expected.

Here are the key segment numbers:

  • Mobility (gross bookings): $23.76 billion, up 18% year over year
  • Delivery (gross bookings): $21.73 billion, up 20% year over year

Uber’s revenue increased 18% from $10.7 billion a year earlier. For the quarter ending June 30, net income rose to $1.36 billion, or 63 cents per share, from $1.02 billion, or 47 cents per share, a year ago.

Gross bookings rose 17% to $46.8 billion, and the company reported adjusted earnings of $2.12 billion.

Uber’s “monthly active platform consumers” increased 15% to 180 million in the second quarter. The company said users booked around 3.3 billion trips during the period, up 18% from a year earlier.

CEO Dara Khosrowshahi said in prepared remarks that Uber sees “enormous potential in better serving families across all stages of life.”

Read more CNBC tech news

In the second quarter, Uber launched Senior Accounts, including an “app experience” that features larger text and icons, and other features that allow family organizers to book and manage rides for others.

The company also recently started testing a new feature in the U.S. that allows women riders or drivers to avoid being paired with men in their ride when possible.

In some international markets, Uber Eats’ food delivery service is more popular than ride hailing, and the company is working to increase “cross-platform activity” to drive sales growth, Khosrowshahi said.

Uber shares are up 48% this year as of Tuesday’s close, while the Nasdaq has gained about 8% over that stretch.

Executives will go over results and the company’s outlook on a call with analysts at 8 a.m. ET.

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Uber YTD stock chart.

Lyft and Baidu look like perfect partners for the robotaxi business: Analyst

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Musk says Tesla is training an upgraded Full Self-Driving model which could be released next month

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Musk says Tesla is training an upgraded Full Self-Driving model which could be released next month

The Tesla Motors Inc. logo.

Michael Short | Bloomberg | Getty Images

Tesla is now training a new Full Self-Driving model boasting “big” video improvements and size upgrades, CEO Elon Musk said Wednesday on social media.

“Tesla is training a new FSD model with ~10X params and a big improvement to video compression loss. Probably ready for public release end of next month if testing goes well,” the tech billionaire said in an update on the X social media platform.

FSD is a partially automated driving system that seeks to enable Tesla vehicles to navigate and maneuver in driving situations with minimal driver assistance. Owners must keep their hands on the wheel, and remain ready to take over steering or braking at any time. It also serves as an upgrade to the company’s Autopilot driver assistant, which is already available in Europe and China.

The system is based on an artificial intelligence model that helps the car’s cameras and sensors perceive the world around it. Musk’s comment on “10X params” refers to a larger parameter size. In the case of AI models, that usually means it is a bigger model that is trained on more data and is more capable.

FSD has been a central pillar of Musk’s strategy for Tesla’s revenue growth and tech advancement in the increasingly competitive electric vehicle market, where Chinese automakers have stepped up to the plate.

Tesla bulls expect the company’s future will be in autonomy as Musk’s automaker focuses on ramping up its offering of self-driving features.

Tesla launched its robotaxi service in Austin, Texas, this year.

But right now, the market is focused on how Tesla’s core business of selling cars is doing. And it has been challenging. Tesla most recently reported a 16% decline in automotive revenue in the second quarter and has also been notching steep declines in its European sales.

The company’s stock has taken a bruising this year that has been exacerbated by reputational damage from Musk’s now-severed relationship with the White House administration. Tesla shares were down 23.55% this year as of Wednesday morning.

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U.S. charges two Chinese nationals for illegally shipping Nvidia AI chips to China

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U.S. charges two Chinese nationals for illegally shipping Nvidia AI chips to China

China is one of Nvidia’s largest markets, particularly for data centers, gaming and artificial intelligence applications.

Avishek Das | Lightrocket | Getty Images

Two Chinese nationals in California have been arrested and charged with the illegal shipment of tens of millions of dollars worth of AI chips, including from Nvidia, the Department of Justice said Tuesday. 

Chuan Geng, 28, and Shiwei Yang, 28, exported the sensitive chips and other technology to China from October 2022 through July 2025 without obtaining the required licenses, the DOJ said.

The illicit shipments included Nvidia’s H100 general processing units, according to a criminal complaint provided to CNBC. The H100 is amongst the U.S. chipmaker’s most cutting-edge chips used in artificial intelligence applications. 

The Department of Commerce has placed such chips under export controls since 2022 as part of broader efforts by the U.S. to restrict China’s access to the most advanced semiconductor technology. 

This case demonstrates that smuggling is a “nonstarter,” Nvidia told CNBC. “We primarily sell our products to well-known partners, including OEMs, who help us ensure that all sales comply with U.S. export control rules.”

“Even relatively small exporters and shipments are subject to thorough review and scrutiny, and any diverted products would have no service, support, or updates,” the chipmaker added.

Geng and Yang’s California-based company, ALX Solutions, had been founded shortly after the U.S. chip controls first came into place. 

According to the DOJ, law enforcement searched ALX Solutions’ office and seized phones belonging to Geng and Yang, which revealed incriminating communications between the defendants, including those about evading U.S. export laws by shipping sensitive chips to China through Malaysia.

The review also showed that in December 2024, ALX Solutions made over 20 shipments from the U.S. to shipping and freight-forwarding companies in Singapore and Malaysia, which the DOJ said are commonly used as transshipment points to conceal illicit shipments to China.

ALX Solutions did not appear to have been paid by entities they purportedly exported goods to, instead receiving numerous payments from companies based in Hong Kong and China.

The U.S. Department of Commerce’s Bureau of Industry and Security and the FBI are continuing to investigate the matter.

The smuggling of advanced microchips has become a growing concern in Washington. According to a report from the Financial Times last month, at least $1 billion worth of Nvidia’s chips entered China after Donald Trump tightened chip export controls earlier this year. 

In response to the report, Nvidia had said that data centers built with smuggled chips were a “losing proposition” and that it does not support unauthorized products.

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