GM. This is Take Off, the playlist of tech news. We curate the greatest hits, chart-toppers, and hidden gems of the tech world to keep you grooving all day long.

Here's what we're serving up today:

• Meta’s $53 Million Fire Sale 🔥

• Marvell’s AI Marvel 🤖

• Asteroids ☄️

• ToolBox Tuesdays ⚒️

Meta’s $53 Million Fire Sale 🔥

So three years ago, Meta bought Giphy, the GIF search engine, for a whopping $400 million. Fast forward to today, and it's being sold to Shutterstock for just $53 million.

That's right, Meta's taking a $347 million loss on this deal, making it the equivalent of buying a house in the Hollywood Hills and selling it for the price of a garden shed.

But why, I hear you ask, would Meta sell at such a loss? Well, our story takes a twist across the Atlantic.

• Our friend across the pond, the UK's Competition and Markets Authority (CMA), played the role of the strict schoolteacher, ruling that Meta had to sell Giphy.

• They claimed the merger gave Meta an unfair leg-up over competitors in the social media and digital advertising market.

While Meta was left sulking in the corner, Shutterstock was grinning from ear to ear. They had been eyeing acquisitions as a part of its near-term strategy, jumped at the chance to purchase Giphy at a steal of a price.

It seems like Meta’s big spending days seem to be behind it. After bagging Instagram, Oculus, and WhatsApp for billions, antitrust regulators worldwide have become more critical and ready to intervene. In other words, Meta's shopping spree might be on a tight leash.

Marvell’s AI Marvel 🤖

Marvell (the semi-conductor company, not the Avengers one) just hopped onto the bandwagon, joining the cool kids club with Nvidia.

Their ticket? A hot forecast predicting AI as their long-term growth BFF.

Marvell’s stock blasted off, not just by a couple of points, but a whopping 32%!

• In their most recent fiscal year, they conjured up $200 million in AI revenue out of their magic hat of a total revenue of $5.92 billion.

• They expect to double the AI number to about $400 million this fiscal year, and then, for an encore, double it again to $800 million next year.

If there’s anything that this earnings season has shown us, it’s that “AI” is the new king of the jungle. The term "AI" was uttered 97 times during Marvell’s earnings call.

☄️ Asteroids ☄️

This AI generates videos from brain signals. Singapore and Hong Kong brainiacs developed an AI, MinD-Video, that can turn brain waves into videos with an 85% accuracy. 🧠📹

WhatsApp is working on usernames and screen sharing. It's testing usernames to help users find each other sans phone numbers (bye-bye awkward number exchanges). Also on the horizon: screen sharing on video calls 🎥💻

Arm launches new chips for faster smartphone performance during Computex. They just unleashed its fastest CPU ever, the Cortex-X4 and the gaming beast, Immortalis-G720 GPU. Now that's arm-azing! 💪😎

⚒️ ToolBox Tuesdays ⚒️

Momentum Page -  Launch your landing page in seconds

Codefy - Code faster with powerful AI tools

Vitally - A New Era For Customer Success Productivity

Uizard - Design stunning mockups in minutes

CommandBar - A GPT-Powered Chatbot For Any Site

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