All articles tagged with #cloud spending
Originally Published 2 months ago — by Business Insider
Internal Amazon documents reveal a significant shift in how AI startups allocate their cloud budgets, with a focus on AI models and tools over traditional AWS services, potentially weakening AWS's dominance in the cloud industry amid growing competition and changing spending patterns.
Originally Published 2 years ago — by Reuters
Oracle projected lower-than-expected revenue for the current quarter and narrowly missed expectations for the first quarter, as businesses reevaluate their digitization plans, leading to decreased cloud spending. The company faces tough competition from larger rivals like Amazon Web Services and Microsoft in the cloud segment. However, analysts believe that the rise in adoption of AI applications could benefit Oracle's cloud infrastructure business. Oracle's Chairman and CTO, Larry Ellison, announced that AI development companies have signed contracts worth over $4 billion for Oracle's Gen2 Cloud. The company expects second-quarter revenue growth of 5-7%, lower than analysts' estimates, and reported first-quarter revenue of $12.45 billion, slightly below expectations.
Originally Published 2 years ago — by Yahoo Finance
Oracle's first-quarter revenue fell slightly below estimates as businesses reduced cloud spending due to a tough economy, causing the company's shares to drop by 9% in extended trading. Despite facing competition from larger rivals like Amazon Web Services and Microsoft, Oracle's advances in networking technology make it well-suited for AI workloads, potentially boosting its cloud infrastructure business. Oracle Chairman Larry Ellison announced that AI development companies have signed contracts worth over $4 billion for Oracle's Gen2 Cloud, and Tesla CEO Elon Musk's AI startup xAI has also signed a contract with Oracle. Oracle expects second-quarter revenue growth of 5-7%, lower than analysts' estimates, and reported adjusted earnings of $1.19 per share, slightly above expectations.
Originally Published 2 years ago — by IBM Newsroom
IBM has completed its acquisition of Apptio Inc., allowing clients to optimize and automate technology spending decisions. The combination of Apptio's FinOps offerings and IBM's automation portfolio will provide businesses with a comprehensive technology management platform. The acquisition also brings Apptio's anonymized IT spend data, valued at $450 billion, to IBM's watsonx AI and data platform, enabling new innovation and insights. Clients can immediately leverage the integration between Apptio and IBM through their Cloudability and Turbonomic offerings, which help control cloud spend and improve cloud investments. This acquisition is part of IBM's ongoing investments in IT Automation to address the challenges faced by IT and business leaders.
Originally Published 2 years ago — by Barron's
Snowflake's stock price has been downgraded again due to ongoing concerns about the company's growth, as customers seek to optimize their cloud spending. The company has reduced its guidance for the third quarter in a row, leading to a sell-off of its shares.
Originally Published 2 years ago — by Yahoo Finance
Palantir Technologies beat Q1 revenue expectations and expects to turn a profit every quarter in fiscal 2023. The company launched a new generative AI platform that has garnered significant interest, and it is investing in focus areas like AI while tightening its cloud spending. Palantir's Q2 revenue forecast is slightly below estimates, but its full-year revenue forecast is largely in line with expectations. The company remains bullish on demand for its offerings in the United States but faced challenges in certain international areas.