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Cloud

Asia's Data Center Boom Fuels Sizzling Valuations

Global investors are flocking to Asia-Pacific data center operators, undeterred by high valuations driven by soaring demand for artificial intelligence services, according to Reuters. Industry executives attribute the premium valuations to the sector's nascent stage and promising growth prospects, though some express concerns about infrastructure limitations. Data centers,

Microsoft Sees Surge in Azure OpenAI Spending from Adobe, Meta

Microsoft's Azure OpenAI service, which provides access to OpenAI's language models, is experiencing significant growth and diversification of its customer base, as reported by The Verge. While TikTok had previously been the dominant customer, Microsoft has successfully expanded its clientele to include major corporations spending over

CoreWeave More Than Triples Valuation in $650 Million Secondary Share Sale

AI cloud platform operator CoreWeave has closed a $650 million secondary share sale to investors, more than tripling the company's valuation to $23 billion over the past year, reports Reuters. The investors were led by Jane Street, Magnetar, Fidelity Management, and Macquarie Capital. This significant valuation increase highlights

Ecosia and Qwant Team Up to Challenge Google's Search Dominance

Two European search engines, Ecosia and Qwant, are joining forces to build a European search index and reduce their dependence on US tech giants like Google, reports CNBC. The companies have formed a joint venture, called the European Search Perspective (EUSP), with equal ownership. The venture, set to launch in

Amazon Steps Up Effort to Rival Nvidia in AI Chip Market

Amazon is making significant strides in its quest to challenge Nvidia's dominance in the AI chip market, reports the Financial Times. The tech giant's cloud computing division is investing heavily in custom chips, spearheaded by Annapurna Labs, a chip start-up acquired by Amazon in 2015. The

Oracle's $115 Million Privacy Settlement Faces Opposition

Oracle and the plaintiffs' lawyers who negotiated a $115 million privacy settlement with the tech giant are facing opposition as a US judge in California prepares to consider final approval of the proposed deal, reports Reuters. More than 25 objections have been filed against the settlement, which was announced

Strong AWS Growth Powers Amazon Results

Amazon, the latest of the "magnificent seven" tech giants to report quarterly earnings, has exceeded Wall Street expectations, driven by strong growth in its cloud computing business, reports The Guardian. Shares in the e-commerce giant rose in after-hours trading following the announcement of revenue of $158.9 billion,

HPE CEO Antonio Neri Confident in Juniper Acquisition, Sees AI Gains

Hewlett Packard Enterprise (HPE) CEO Antonio Neri confirmed in an interview with Yahoo Finance that the company's acquisition of Juniper Networks is expected to close within the next few weeks. The deal, valued at $5 billion, will create a $35 billion company with networking representing more than 15%

Snowflake Update: Challenges Ahead as AI Hype Cools and Buffett Exits

Snowflake's once-unstoppable momentum has hit a snag. While its core business remains strong, recent events have injected a dose of reality into its outlook. A high-profile data breach, a cooling AI hype cycle, and Warren Buffett's decision to exit his stake have all cast a shadow

MongoDB Eyes GenAI Growth

Plus: Lyft Shifts Gears, and Regulators Circle Temu and Shein SaaS & Infra | AI | Consumer | Venture SaaS & Infra MongoDB COO bullish on long-term GenAI potential despite macro headwinds While acknowledging the impact of macroeconomic conditions on consumption growth, MongoDB COO Michael Gordon expressed strong optimism regarding the long-term potential