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. …
The hottest artificial intelligence event of the year kicks off next week, setting the stage for key AI players to see sharp moves. Nvidia’s GTC Conference, dubbed “AI Woodstock” by Bank of America, offers an opportunity for the company to showcase its latest AI chip innovations and future vision as it labors to maintain its …
Shares of Oracle Financial Services surged as much as 7% on Tuesday after the company’s parent Oracle Corp. staged a strong rally in afterhours trading overnight. Oracle Corp.’s shares surged 14% in extended trading after reporting a spike in bookings in its cloud computing business. Oracle’s Remaining Performance Obligations, a measure of the company’s sales …
(Bloomberg) — Oracle Corp. surged 11% after signaling that growth in its closely watched cloud computing business is stabilizing, showing progress in its bid to capture more market share in the competitive market. Most Read from Bloomberg Cloud revenue jumped 25% to $5.1 billion in the period that ended in February, the company said Monday …
“The V2MOM had nothing about generative AI,” Parker Harris, who co-founded the company with Benioff, told CNBC in an interview. It was a first for Salesforce, which had never been caught so off-guard about an emerging technology trend. If Salesforce was to become a leader in generative artificial intelligence, the company would need to quickly …
“What you actually need is a fleet of F-150 pickup trucks,” Kon said. “We make F-150s.” Founded by ex-Google AI researchers and backed by Nvidia, Cohere is betting on generative AI for the enterprise rather than on consumer chatbots, which have been the talk of the tech industry since OpenAI released ChatGPT in late 2022. …
Meta, OpenAI, and Microsoft said they will use AMD’s newest AI chip, the Instinct MI300X — a sign that tech companies want alternatives to the expensive Nvidia graphics processors that have been essential for artificial intelligence. If the MI300X is good enough and inexpensive enough when it starts shipping early next year, it could lower …