More clouds but still warm Wednesday
More clouds but still warm Wednesday
More clouds but still warm Wednesday
Google Cloud, Google's cloud computing division, had a blockbuster fiscal quarter, blowing past analysts' expectations and sending Google parent company Alphabet's stock soaring 13%+ in after-hours trading. Google Cloud revenue jumped 28% to $9.57 billion in Q1 2024, bolstered by the demand for generative AI tools that rely on cloud infrastructure, services and apps. Google Cloud's operating income grew nearly 5x to $900 million, up from $191 million.
Data sovereignty and residency laws have become commonplace in recent years. The major clouds, however, were always set up to enable the free movement of data between their various locations, so over the course of the last few years, all of the hyperscalers started looking into how they could offer sovereign clouds that can guarantee that government data, for example, never left a given country. The Microsoft Azure Cloud for Sovereignty became generally available in December.
Google’s Cloud Next 2024 event takes place in Las Vegas through Thursday, and that means lots of new cloud-focused news on everything from Gemini, Google’s AI-powered chatbot, to AI to devops and security. Last year's event was the first in-person Cloud Next since 2019, and Google took to the stage to show off its ongoing dedication to AI with its Duet AI for Gmail and many other debuts, including expansion of generative AI to its security product line and other enterprise-focused updates and debuts. Don’t have time to watch the full archive of Google's keynote event?
Amazon, Microsoft and Google — have relaxed their egress fees, which are a tax of sorts that the cloud companies charge customers to move their data to another vendor. It’s a way to keep existing customers in the fold, but it’s kind of a ham-handed way to do it, and doesn’t exactly foster goodwill. For example, there are limits to the kind of data you can move, and each requires you to contact the vendor and open a request to get your own data out of the cloud.
Amazon earnings preview: What to expect from the company's fiscal fourth quarter results
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A lot has happened since Dev Ittycheria took the reins at MongoDB, the $26 billion database company he's led as president and CEO since September 2014. Ittycheria has taken MongoDB to the cloud, steered it through an IPO, overseen its transition from open source, launched a venture capital arm, and grown the customer base from a few hundred to something approaching 50,000. "When I joined the company, it wasn't clear if people would trust us to be a truly mission-critical technology," Ittycheria told TechCrunch.
The Los Angeles Clippers blew a 31-point lead to the Dallas Mavericks in Game 4 of their first-round NBA playoff series before toughing out a 116–111 victory.
Earnings presentations from four of the biggest tech companies in the world showed two very different visions of AI: the moonshot and the incremental gains.
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President Joe Biden signed a bill on Wednesday that could ban TikTok — for real this time. “I think two years ago, this would have been devastating,” Karat Financial co-founder and co-CEO Eric Wei told TechCrunch.
Rubrik’s strong IPO pricing and warm reception by the public markets after its listing add more weight to the perspective that the public markets are not as closed to tech startups as some thought. If Rubrik’s result isn’t enough to break the logjam, well, maybe there’s something else going on. Happily it was all pretty darn interesting, so Mary Ann and Alex started with Rubrik before pivoting to Pomelo, a startup that has a very interesting twist on the remittances market.
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The bill in question, which President Joe Biden signed Wednesday, gives Chinese parent company ByteDance nine months to divest TikTok or face a ban on app stores to distribute the app in the U.S. The law received strong bipartisan support in the House and a majority Senate vote Tuesday, and is part of broader legislation including military aid for Israel and Ukraine. Many who sponsored the bill admit that a TikTok ban is their ultimate goal...It's actually ironic because the freedom of expression on TikTok reflects the same American values that make the United States a beacon of freedom.
All-around, highly generalizable generative AI models were the name of the game once, and they arguably still are. Case in point: Snowflake, the cloud computing company, today unveiled Arctic LLM, a generative AI model that's described as "enterprise-grade." Available under an Apache 2.0 license, Arctic LLM is optimized for "enterprise workloads," including generating database code, Snowflake says, and is free for research and commercial use.
Nvidia is acquiring Run:ai, a Tel Aviv-based company that makes it easier for developers and operations teams to manage and optimize their AI hardware infrastructure. CTech reported earlier this morning the companies were in "advanced negotiations" that could see Nvidia pay upwards of $1 billion for Run:ai. Nvidia says that it'll continue to offer Run:ai’s products "under the same business model" and invest in Run:ai's product roadmap as part of Nvidia's DGX Cloud AI platform, which gives enterprise customers access to compute infrastructure and software that they can use to train models for generative and other forms of AI.
Tupac Shakur’s estate isn’t pleased with Drake cloning the late hip-hop legend’s voice in a Kendrick Lamar diss track. Attorney Howard King, representing Mr. Shakur’s estate, sent a cease-and-desist letter calling Drake’s use of Shakur’s voice “a flagrant violation of Tupac’s publicity and the estate’s legal rights.”
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