Meta Settles $17B Lawsuit, Nvidia Crushes Earnings Expectations

Meta has agreed to pay up to $17.1 billion over the next decade to settle a landmark child-safety lawsuit brought by 29 state attorneys general.

The suit alleged that Meta designed Instagram with intentionally addictive features and exposed younger users to serious mental harm while misleading the public about the platform's safety.

In addition to the payout, the social media company will make sweeping changes to its platform, including a default two-hour daily time limit on Facebook and Instagram for under-18 users, and will bring on an independent auditor.

Nvidia also reported impressive earnings, with revenue of $96.2 billion in its fiscal second quarter, up 18% over last quarter and crushing analyst estimates of $92.2 billion.