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Alphabet's Google Cloud business is now pushing a $40 billion annual revenue run rate as the company overall delivered strong first quarter results.
Alphabet reported first quarter revenue of $80.54 billion, up 15% from a year ago, with net income of $23.66 billion, or $1.89 a share. Wall Street was expecting Alphabet to report first quarter earnings of $1.50 a share on revenue of $78.7 billion.
Insight Blog
Microsoft reported a strong third quarter with revenue growth was 17% with Microsoft Cloud revenue up 23% from a year ago. Azure and other cloud services revenue growth was 31% driven by AI services.
The company reported third quarter net income of $21.9 billion, or $2.94 a share, on revenue of $61.9 billion. Wall Street was expecting Microsoft to report third quarter earnings of $2.84 a share on revenue of $60.89 billion.
Insight Blog
My conversations with Chief Information Officers (CIOs) in 2024 continues to show they remain under steady pressure from corporate boards to rapidly harness the strategic potential of Artificial Intelligence (AI) ahead of their competition, while heading off disruption due to the market changes AI is causing.
Analyst Blog
Rubrik, an enterprise backup and recovery company, has filed for an initial public offering in a move that indicates a new batch of security vendors are likely to hit the market as companies prep their post-breach strategies. Rubrik, which trades under the ticker RBRK, priced its IPO at $32 a share, raising $752 million at a $5.6 billion valuation. The price was above its expected range.
Insight Blog
As long as the ad revenue continues to flow into Meta properties such as Facebook and Instagram, CEO Mark Zuckerberg is going to invest aggressively in an AI buildout. "I think it makes sense to go for it," he said.
Insight Blog
ServiceNow posted strong first quarter results and said its genAI offerings are the "fastest selling in the company’s history."
ServiceNow reported first quarter net income of $347 million, or $1.67 a share. Non-GAAP earnings were $3.41 a share. Revenue for the first quarter was $2.6 billion, up 24% from a year ago. Wall Street was expecting ServiceNow to report earnings of $3.13 a share on revenue of $2.59 billion.
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IBM said it will acquire HashiCorp in a deal valued at $6.4 billion as it builds out its infrastructure and security lifecycle management tools to go along with its hybrid cloud and AI portfolio.
The purchase price equates to $35 a share in cash for HashiCorp shareholders.
IBM CEO Arvind Krishna said the acquisition will help customers "manage the complexity of today's infrastructure and application sprawl" as they build out hybrid cloud and generative AI infrastructure. HashiCorp is a play on hybrid and multi-cloud workflows and a solid add-on to Red Hat.
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Moderna said it is using OpenAI's ChatGPT Enterprise to scale custom models across its business.
According to Moderna, the company launched its own instance of ChatGPT called mChat built on OpenAI's API. Moderna said it had 80% internal adoption initially and then it deployed ChatGPT Enterprise with analytics, image generation and GPTs.
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Nvidia said it has acquired Run.ai, a startup focused on GPU workload management and orchestration.
Run.ai's platform is Kubernetes-based and will help Nvidia customers distribute workloads across cloud, edge and data center infrastructure.
Terms of the deal weren't disclosed, but CTech put the purchase at about $700 million.
Insight Blog
Snowflake launched Arctic, an open-source large language model (LLM) optimized for enterprise workloads and efficiency. The move highlights how data platforms are increasingly launching LLMs to combine with their data platforms.
For Snowflake, Arctic is also among the first launches under new CEO Sridhar Ramaswamy's tenure. Arctic will be part of a larger LLM family built by Snowflake.
Insight Blog
Microsoft and The Coca-Cola Co. announced a five-year $1.1 billion deal that includes Azure OpenAI, Microsoft 365 and apps including Power BI and Dynamics 365 as the beverage company rounds out its multi-cloud strategy.
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Customer success can be a valuable, meaningful and profitable endeavor for technology buyers and vendors. So why does customer success seem to miss the mark so often? Is it a misalignment of goals? Teams coming into the process too late? Perhaps a combination of a multitude of factors? When Liz Miller first wrote about customer success in a blog post, she didn't think she'd hit a nerve...but she did. So, the conversation continues!
Video
Constellation Research explores how analytical data platforms are evolving and what to expect in a modern platform.
Video
Enterprises will be able to import their own large language models (LLMs) into Amazon Bedrock and evaluate models based on use cases, said Amazon Web Services. AWS also launched two Amazon Titan models.
The ability to import custom models and evaluate them plays into the broader themes of generative AI choice and orchestration. AWS' Bedrock bet is that enterprises will use multiple models and need a neutral platform to orchestrate them.
Insight Blog
In eight years, from a few hundred attendees at a nondescript location in San Francisco to 30,000+ attendees in one of the largest convention centers in Las Vegas, with a private concert in a football stadium, Google Cloud Next conference has come a long way. And so has Google Cloud. Google Cloud grew its revenue 5x in the last five years.
Analyst Blog
SAP reported a first quarter loss due to a restructuring charge but said its cloud revenue was up 24% with cloud ERP revenue growth of 32%. SAP said its cloud backlog was €14.2 billion, up 27% from a year ago.
The company's first quarter results come amid a restructuring effort that cut 8,000 jobs. SAP is also moving customers to S4/HANA through its SAP RISE program and looking to layer in business intelligence throughout its applications via generative AI.
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Verizon CEO Hans Vestberg is splitting the telecom giant's AI use cases in three buckets: Optimizing processes, product experiences and revenue growth.
Vestberg's thinking on AI, including generative AI, highlights how CEOs are maturing in their generative AI approaches. First, there was a wave of demand for shiny new objects. Then there was the wave of efficiency for AI use cases. And revenue growth is percolating as a goal but is far less developed so far.
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Sustainable eCommerce & AI Security
DisrupTV Episode 361 — with Eric Best, Kunal Agarwal & Maisie Ganzler
In this episode, hosts R “Ray” Wang and Vala Afshar explore the intersection of e-commerce innovation, cybersecurity modernization, and authentic sustainability. Guests include:
Video
Informatica said its first quarter results will be at the upper end of its guidance given in February and is "not currently engaged in any discussions about being acquired."
Following its fourth quarter results, Informatica projected first quarter revenue of $375 million to $395 million with subscription annual recurring revenue of $1.135 billion to $1.155 billion. Cloud subscription ARR was projected to be between $645 million to $655 million.
Insight Blog
In honor of Earth Day, we are thrilled to unveil the Sustainability50 (S50) for 2024. These remarkable professionals lead organizations that have raised the bar on sustainability and they’re laying the groundwork for improved efficiency and further reductions in emissions, waste, and risk.
Analyst Blog
Constellation Research Awards Leading Voices for Sustainability in Celebration of Earth Day
Press Release
Generative AI use cases are proliferating in financial services to illustrate a trend that's a bit counterintuitive--heavily regulated industries appear to be better set up for artificial intelligence because they have their data and controls in order.
Insight Blog
Equifax said it is deploying Google Cloud's Vertex AI platform across its systems as it accelerates data ingestion as well as new product launches.
Speaking on Equifax's first quarter earnings call, CEO Mark Begor said driving AI innovation is key to the company's growth goals via products such as Ignite and Interconnect. Begor said:
Insight Blog