AI startup CoreWeave raises $7.5 billion in debt, Blackstone leads

AI startup CoreWeave raises .5 billion in debt, Blackstone leads

Investors are flocking to CoreWeave because the 550-person company is one of the main providers of Nvidia’s chips for running AI models. Demand for the technology is soaring as businesses across virtually all sectors are racing to integrate AI chatbots into their products following the launch of OpenAI’s ChatGPT in late 2022. With Nvidia’s AI-focused …

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How Scrappy Cryptominer CoreWeave Transformed Into the Multibillion-Dollar Backbone of the AI Boom

How Scrappy Cryptominer CoreWeave Transformed Into the Multibillion-Dollar Backbone of the AI Boom

Fulfilling the world’s surging demand for AI chatbots and image generators depends on mundane components as much as glitzy GPUs. Server cabinets, heavy-duty metal enclosures to store GPU systems, have at times been a crucial bottleneck. As it scrambled to build up its facilities, CoreWeave once ordered 1,400 of the wrong cabinets. It was a …

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Microsoft says cloud AI demand exceeds supply despite spending surge

Microsoft says cloud AI demand exceeds supply despite spending surge

Even with all that investment, Microsoft has a shortage of data center infrastructure, specifically for deploying artificial intelligence models. “We do have demand that exceeds our supply by a bit,” Microsoft CFO Amy Hood told analysts on the company’s earnings call. Companies need an ever-increasing amount of compute to run hefty workloads, adding human-like generative …

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Microsoft (MSFT) Q3 earnings 2024

Microsoft (MSFT) Q3 earnings 2024

Earnings per share: $2.94 vs. $2.82 expected Revenue: $61.86 vs. $60.80 billion expected Microsoft’s total revenue grew 17% year over year in the quarter, which ended on March 31, according to a statement. Net income, at $21.94 billion, or $2.94 per share, was up from $18.30 billion, or $2.45 per share in the year-ago quarter. …

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Snowflake releases a flagship generative AI model of its own

Snowflake releases a flagship generative AI model of its own

Image Credits: Joan Cros/NurPhoto / Getty Images All-around, highly generalizable generative AI models were the name of the game once, and they arguably still are. But increasingly, as cloud vendors large and small join the generative AI fray, we’re seeing a new crop of models focused on the deepest-pocketed potential customers: the enterprise. Case in …

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Google unveils Axion Arm-based chips for energy-efficient computing

Google unveils Axion Arm-based chips for energy-efficient computing

Google parent Alphabet still derives three-quarters of revenue from advertising, but cloud is growing faster and now represents almost 11% of company revenue. The segment, which contains corporate productivity applications, is also profitable. Google held 7.5% of the cloud infrastructure market in 2022, while Amazon and Microsoft together controlled around 62%, according to Gartner estimates. …

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Venture deals in U.S. fell to lowest level since 2017 in Q1: PitchBook

Venture deals in U.S. fell to lowest level since 2017 in Q1: PitchBook

The dearth of dealmaking shows that, despite a rebound in tech stocks last year and continuing hype around generative AI, venture capitalists are still largely on the sidelines. Startup financings soared to record levels in 2021, before slowing dramatically the following two years as inflationary concerns and rising interest rates pushed investors into safer assets …

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Transactional Serverless Computing: PostgreSQL Creator Announces DBOS Cloud

Transactional Serverless Computing: PostgreSQL Creator Announces DBOS Cloud

The creators of DBOS have recently introduced DBOS Cloud, a transactional serverless application platform tailored for TypeScript developers. With all state information stored in a highly available DBMS, this new platform assures transactional serverless computing, offering reliable execution alongside so-called “time travel” capabilities. Dubbed as “the world’s first cloud-native operating system” and a “database alternative …

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