Nvidia crushes earnings day and Live Nation being sued by US Government 🧑‍⚖️

Sup Scoopers, TGIF and I don’t know about you but I am pumped for the weekend. Before we let you go, we had to hit you with some fire conversation starters for the weekend. You know what that means - welcome (back) to Product Scoop. We’re the newsletter delivering news, insights, and analysis into the tech sector.

Without further ado, find your scoops below👇

🧑‍⚖️ Live Nation being sued in groundbreaking lawsuit

• The U.S. government and 30 states sued Live Nation, alleging its Ticketmaster subsidiary used its dominance to harm concertgoers. Filed in New York, the lawsuit accuses the company of monopolistic practices, such as exclusive venue deals, leading to higher fees and restricted competition. This follows the 2022 Taylor Swift ticketing debacle that highlighted the lack of competition. Attorney General Merrick Garland stated that the case is about illegal practices, not just consumer inconvenience. Read more

📈 Nvidia shatters earnings and stock passes $1,000 for first time

• Nvidia has shattered expectations with its latest fiscal first-quarter earnings, catapulting its stock above the $1,000 per share milestone in extended trading! The tech giant's results, revealed on Wednesday, highlight the unstoppable demand for Nvidia’s cutting-edge AI chips. CEO Jensen Huang electrified investors by announcing that revenue from their revolutionary next-generation AI chip, Blackwell, would begin later this year. Read more

🦾 Alibaba is betting on AI to fuel cloud growth

• Alibaba has turbocharged its global cloud computing presence, unveiling an expansion that promises to ignite growth through cutting-edge AI products. The tech behemoth has rolled out its cloud computing services to Mexico and announced plans to establish new data centers in Malaysia, Thailand, and South Korea over the next three years. This aggressive expansion marks a significant push for Alibaba Cloud, particularly under the leadership of Selina Yuan, President of Alibaba Cloud's international division. Read more

👨‍💻 Garry Tan reveals the secret sauce to get into Y Combinator

• Garry Tan, president and CEO of Y Combinator, revealed what the accelerator looks for in applicants. YC, which accepts less than 1% of applications, seeks founders who can create new markets with innovative technologies. Applicants don't need connections; anyone can apply online. YC values "first principles thinkers" who believe in and can execute unconventional ideas, like Brian Armstrong of Coinbase. Read more