Rimini Street reported a fourth quarter profit of $724,000, or a penny a share, on revenue of $109.8 million, down 3.9% from a year ago. Non-GAAP earnings for the fourth quarter were 6 cents a share.

The revenue decline was due to Rimini Street phasing out its PeopleSoft support offerings.  

As for the outlook, Rimini Street projected first quarter revenue between $101.5 million and $103.5 million. The company reiterated revenue growth for 2026 in the 4% to 6% range.

See: Rimini Street’s second act will include heavy dose of agentic AI, UX

CEO Seth Ravin said on the earnings call that its agentic ERP offerings with ServiceNow are garnering strong interest. He said:

"We're positioning Rimini Street as the bridge between existing traditional ERP software infrastructure and the capability and benefits of modern AI innovation, and we expect growing subscriptions for both Rimini Support as our core service offering and our new AI for the real-world service offerings to fuel top and bottom line growth in 2026."

Cognizant expanded its partnership with Google Cloud and said it will deploy Google Workspace with Gemini Enterprise internally. Cognizant previously announced it would adopt Gemini Enterprise internally. The two companies are go-to-market partners for bringing AI agents to enterprises where Gemini Enterprise is integrated with Cognizant's Neuro AI and Agent Foundry.

The Financial Times is reporting that Amazon outages were due to AI coding and its Kiro AI too. Amazon said it was user error. Discussion ensued. Kiro was launched last year as an IDE powered by AI agents and was fleshed out at AWS re:Invent 2025. 

Microsoft Research outlined Project Silica, which is an effort to use glass storage to store data for up to 10,000 years. Microsoft said: "Glass storage is still emerging (experts predict it will require 3-4 more developmental stages before it’s ready for commercial use), but its benefits are clear: it’s durable, sustainable, and cost-effective." The project was published in Nature.

I'll just leave this link here. In a nutshell, here's your new org chart with your LLM overlords. We hope this is a joke, but don't think it is. 

Etsy has sold Depop, a gen-Z thrifting marketplace, to eBay in a deal valued at $1.2 billion. Etsy acquired Depop in 2021 for $1.6 billion.

Etsy said it will focus on its core marketplace. eBay said it will take Depop to improve its position in consumer to consumer fashion commerce. Depop had 7 million active buyers with 90% of them under age 34 and 3 million active sellers. 

Figma reported better-than-expected earnings and something rare occurred--the stock went up. Figma shares saw a 18% after hours bounce to recoup some of the 35% year-to-date decline.

Figma reported a fourth quarter net loss of $226.6 million, or 44 cents a share. Non-GAAP earnings were 8 cents a share, two pennies a share better than estimates. Revenue in the fourth quarter was $303.8 million, up 40% from a year ago.

For the first quarter, Figma projected revenue between $315 million to $317 million, up about 38% from a year ago. The company said 2026 revenue will be between $1.366 billion to $1.374 billion, up about 30%.

CEO Dylan Field said:

"Our growth and momentum show that our strategy is working. As AI gets better, Figma gets better—and we’re shipping faster than ever. In 2025, we expanded from 4 to 8 products and launched over 200 features, including new AI-native functionality."
 

The Royal Society Michael Faraday Prize Lecture was delivered by 2025 winner Professor Michael John Wooldridge. The talk is worth a listen. Key themes:

• The paradox of modern AI. Modern AI systems appear as articulate, confident experts, yet they frequently fail basic tests of rational intelligence.
• Risk of a "Hindenburg-style disaster." Wooldridge argues that intense commercial pressure is forcing tech companies to release tools before their flaws are understood. He suggests that a high-profile failure—such as a deadly self-driving car update or an AI-powered financial collapse—could shatter global trust in technology, much like the Hindenburg disaster ended the era of airships.
• LLMs struggle with simple tasks. AI can be incredibly effective at complex tasks but fail catastrophically at simple ones. He describes these systems as "glorified spreadsheets" rather than conscious entities.
• Anthropomorphism is dangerous. Pursuing humanlike AI is a "dangerous path" that misleads users into trusting them as reliable peers.
• What's next? Researchers are creating a field of experimental AI just to understand the unpredictable nature of systems already built.

The list of technology giants forming partnerships, building infrastructure and developing AI ecosystems is pretty long at this point. Why? The India AI Summit is underway. Here's an aggregation of developments via Techmeme to get the headlines at a glance. 

Google I/O will be held May 19 and May 20 at the in Mountain View, CA. The event will feature a new Android as well as updates on XR and smart glasses. Google has a partnership with Warby Parker so it's likely we'll see some product launches. You can also expect Gemini updates. I'll be at Google Cloud Next, which kicks off a month before.  

Mistral AI will acquire cloud provider Koyeb in a move to accelerate its Mistral Compute service. In a blog post, Koyeb said:

“The Koyeb platform will continue operating. In the coming months, we’re expecting to transition to become a core component of Mistral Compute and will double down on our Inference, Sandboxes and serverless capabilities for MCP Servers.

As we join Mistral AI and prepare for this transition, we're going to focus on customers on the Pro plan and above.”

Nicolas Bustamante, CEO of Fintool, penned an article on X on the AI-driven (actually more like Anthropic) software sell off and included a grid of what categories of SaaS will take the biggest hit. The article is worth a read to gauge the nuance of what SaaS vendors will be disrupted. Bustamonte riffs on the 10 moats of vertical software and what LLMs will do to each.

More:

• How three hotel giants are playing agentic commerce, AI
• How CEOs are answering the dreaded LLM disruption question
• SaaS under the microscope: How to evaluate your vendor
• SaaS death knell storyline illogical, but margin compression is here
• Observability stands out in enterprise software wreckage