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☆ Amazon’s new cloud boss inherits a business under pressure to keep pace in AI
▼ + stars: | 2024-05-23 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +12 min

"It's very early days in generative AI," said Jassy, who succeeded Jeff Bezos as CEO in 2021. Davidson, told CNBC that Amazon was "caught flat-footed" by the generative AI boom. During a Q&A session on Wednesday, Jassy was asked twice about the status of Amazon's generative AI efforts. He said the company is "seeing a lot of momentum" in generative AI within AWS to where it's now a multibillion-dollar business based on annualized revenue. Amazon has previously said it intends to use generative AI to make Alexa more conversational.

Persons: Noah Berger, Andy Jassy, OpenAI's ChatGPT, Adam Selipsky, Jassy, Jeff Bezos, Matt Garman, Gil Luria, Davidson, Luria, Bezos, Selipsky, Casey McGee, McGee, Anthropic, Dario Amodei, OpenAI, it's, Garman, Amazon, wasn't, Dilip Kumar, Kumar, Swami Sivasubramanian, Jamie Meyers, Meyers, Matt, Jordan Novet, Kate Rooney Organizations: Web Services, Getty, Amazon, Microsoft, Google, D.A, CNBC, Amazon Web, Alexa, AWS, Nvidia, ChatGPT, Accenture, Toyota, Nasdaq, Investments Locations: Las Vegas, Vegas, Bezos, Anthropic

☆ Amazon's cloud business needs a 'bulldozer.' New AWS CEO Matt Garman fits the bill.
▼ + stars: | 2024-05-15 | by ( Eugene Kim | ) www.businessinsider.com time to read: +8 min

Read previewAt an October all-hands meeting, an Amazon Web Services employee asked executive Matt Garman about the company's difficult work environment. The people who spoke with BI about Garman asked not to be identified so they could freely discuss his abilities. One AWS employee pointed out to BI that Amazon Q was months behind the launch of Microsoft's AI Copilots. Associated PressOutside of AI, AWS has struggled in its core startups and small business segments, failing short of sales targets last year, as BI previously reported. Those customers are particularly important for AWS because the company built its early business by embracing that market.

Persons: —, Matt Garman, Garman, It's, Adam Selipsky, Selipsky, Andy Jassy, Matt, Amazon's, Patrick Neighorn, He'd, We're, Neighorn, it's, Claude, AWS's, let's Organizations: Service, Amazon Web Services, AWS, Business Insider, Employees, Business, Amazon, Stanford, BI, Mizuho Securities, Q, Cohere, Mistral, Google, Associated Locations: Anthropic

☆ Amazon's cloud CEO departs with dour views on his tenure, amid growing competition and AI woes
▼ + stars: | 2024-05-14 | by ( Ashley Stewart | Eugene Kim | ) www.businessinsider.com time to read: +5 min

Selipsky's three years as AWS CEO were marked by mixed results. AdvertisementHe steered through some of the cloud business' slowest growth rates, largest layoffs, and biggest challenges in the artificial intelligence space. AdvertisementAmazon's generative AI service Bedrock was delayed after originally being scheduled to launch in the fall of 2022, the person said. Garman was once considered a frontrunner to replace former AWS CEO Andy Jassy in 2021 when Jassy took over as Amazon's CEO. Some insiders referred to Selipsky as "just a sales guy" and "uninspiring," as the cloud leader faced unprecedented competition in generative AI.

Persons: —, Adam, Selipsky, shakeup, Patrick Neighorn, Matt Garman, Garman, Andy Jassy, Jassy, Amazon, Ashley Stewart Organizations: Service, Web Services, Business, AWS, Amazon, BI, Rivals Microsoft, Google

☆ Amazon Web Services CEO Adam Selipsky to step down
▼ + stars: | 2024-05-14 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Amazon’s biggest moneymaker, Amazon Web Services, is getting a new leader. Adam Selipsky, the chief executive of the cloud computing unit, will step down from his role next month, the company announced Tuesday. Selipsky, who first joined AWS in 2005 — before its services were even publicly available — has led the business since 2021, when previous AWS CEO Andy Jassy was promoted to lead all of Amazon. Matt Garman, currently vice president of sales, marketing and global services, will take over as AWS CEO starting June 3. Amazon Web Services’ sales have grown more than 85% since Selipsky’s takeover.

Persons: New York CNN —, Adam Selipsky, Selipsky, —, Andy Jassy, Matt Garman, Jassy, “, he’d, Adam, ” Jassy, “ I’m, Matt, ” Selipsky, Garman Organizations: New, New York CNN, Amazon Web, AWS, Google, Microsoft, Amazon Locations: New York

☆ Amazon Web Services CEO Adam Selipsky to step down on June 3
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon Web Services CEO Adam Selipsky to step down on June 3AWS CEO Adam Selipsky is stepping down from his role, and Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed him.

Persons: Adam Selipsky, Matt Garman Organizations: Web, Amazon Web Services

☆ Adam Selipsky is out at AWS
▼ + stars: | 2024-05-14 | by ( Ellen Thomas | Eugene Kim | ) www.businessinsider.com time to read: +2 min

Read previewAmazon Web Services CEO Adam Selipsky is stepping down from his role leading Amazon's cloud unit, according to an internal memo viewed by Business Insider and later posted to Amazon's website. Matt Garman, currently senior vice president of sales, marketing, and global services for AWS, will assume the CEO role. This story is available exclusively to Business Insider subscribers. AdvertisementSelipsky, who first worked for AWS between 2005 and 2016, was tapped by Jassy to lead the unit in 2021. Selipsky led AWS during the height of the pandemic when the shift to remote work spurred an unprecedented spike in demand for cloud services.

Persons: —, Adam Selipsky, Matt Garman, Matt, Andy Jassy, Jassy, He'll, Selipsky, Ellen Thomas, Eugene Kim Organizations: Service, Business, AWS

☆ It's no surprise to see Amazon shares lower after cloud CEO shakeup
▼ + stars: | 2024-05-14 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. However, Jim Cramer argued that a negative revision to the March PPI offset the price pressures in Tuesday's print. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, It's, Adam Selipsky, Selipsky, Matt Garman, Jim Cramer's Organizations: CNBC, Federal Reserve, GameStop, Bank of America, Amazon, Amazon Web Services, Club

☆ Amazon is laying off hundreds of employees in its cloud division
▼ + stars: | 2024-04-03 | by ( Jyoti Mann | Eugene Kim | ) www.businessinsider.com time to read: +2 min

Amazon is laying off hundreds of employees in its cloud division, emails obtained by BI show. The latest round of job cuts will impact employees in its cloud division, Amazon Web Services, internal emails seen by Business Insider show. "We didn't make these decisions lightly, and we're committed to supporting the employees throughout their transition to new roles in and outside of Amazon. Earlier this year, Amazon also cut hundreds of jobs across its Prime Video and healthcare units. AdvertisementA recently obtained internal HR document from last year showed Amazon placed more employees on performance-improvement plans while carrying out the mass layoffs.

Persons: —, Matt Garman, we're, Geekwire, Amazon's Organizations: BI, Amazon, Service, Amazon Web, Business, Global Services

☆ How real estate's pain could be Wall Street's gain as Blackstone, Goldman, and others dive back in.
▼ + stars: | 2024-03-19 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +12 min

That's not to say predictions of a commercial real estate rebound are a sure bet. Here are four signs that support Gray's prediction that the commercial real estate market may be bottoming. (New York Community Bank had previously purchased $2.7 billion in Signature's loans and deposits, but not the real estate loans.) According to David Seifert, partner at private equity real estate firm Velocis, there are some sweet deals to be had in secondary sales of private-equity funds tied to real estate. The road aheadWhere Gray sees signs of bottoming, others think commercial real estate has much further to fall.

Persons: Warren Buffett, Buffett, Paul Getty, Getty, Steve Mnuchin —, Blackstone, Mnuchin, Donald Trump's, George Soros, John Paulson, It's, Jonathan Gray, Jim Garman, That's, Barry Sternlicht, Gray, Tracy Chen, Chen, BGO, secondaries There's, Ares, Brian King, King, David Seifert, Seifert, Velocis, Goldman Sachs, Dan McNamara, McNamara, Scott Rechler, wallop, Janet Yellen, Rechler, there's Organizations: Business, Goldman, Reuters, Starwood, Brandywine Global, Federal Reserve, . Bank, New York Community Bank, FDIC, Signature Bank, Community Bank, Fund Management, Community Preservation, New, Commercial Observer, Blackstone, Homes, Digital Realty, Polpo, RXR Locations: Blackstone, , New York, New York, BREIT, Real, Velocis

☆ Iowans weigh Trump’s legal woes as they decide who to back in caucuses
▼ + stars: | 2024-01-13 | by ( Arit John | ) edition.cnn.com time to read: +7 min

Ames, Iowa CNN —Teresa Garman has attended decades worth of Iowa caucuses, but views Monday’s meeting as the most consequential. In interviews, Iowans expressed an array of opinions on Trump’s legal problems, from anger over what they say they believe is a “witch hunt,” echoing the former president’s criticism, to a desire to move on and focus on issues plaguing the country. Among those who were not considering the former president, 57% said Trump was controversial and 48% said they were concerned about his legal issues. “If Trump is the nominee, it’s going to be about January 6, legal issues, criminal trials,” DeSantis said during a CNN debate Wednesday. “I think that Vivek is, in a roundabout way, even better for Trump than Trump being in there,” Sherman said.

Persons: Iowa CNN — Teresa Garman, Ron DeSantis –, he’ll, Donald Trump, “, Trump, ”, ” Trump, –, Iowans, Nikki Haley, DeSantis, Vivek Ramaswamy, Haley, Ramaswamy, Donald Trump Jr, Joe Biden, ” Marian Webster, she’s, Biden, – Webster, it’s, ” DeSantis, Sandy Wigdahl, It’s, ” Dan Boyle, caucusing, Boyle, “ He’s, He’s, ” Boyle, I’ll, Trump’s, Pat Goodman, Goodman, ” Goodman, ” Ramaswamy, Loren Sherman, Vivek ”, Sherman, Vivek, ” Sherman, “ Vivek, Ebony Davis, Kit Maher, Veronica Stracqualursi Organizations: Iowa CNN, Ames, Florida Gov, Iowa, Trump, ” Trump –, GOP, Hawkeye State, Former South Carolina Gov, CBS, Tower, CNN, UN, West Des Moines, Ramaswamy Locations: Ames, Iowa, Florida, Colorado, New York, Urbandale, Ankeny, Des Moines, Clive, West Des, Waukee

☆ AI fatigue, sales challenges, and the problem of getting big: Inside growing tension at AWS
▼ + stars: | 2023-11-29 | by ( Eugene Kim | ) www.businessinsider.com time to read: +14 min

For Amazon, AWS is more important than ever. Targets missedAWS is falling short of reaching sales goals in its startups and small-business segments, two employees told BI. Burnout and attritionSeveral AWS employees also pointed to high turnover as a major point of concern. AWS employees told BI it still remains to be seen how all these changes will manifest in the months to come. "The most significant single sentiment we feel is uncertainty," one of the AWS employees told BI.

Persons: Matt Garman, Garman, Mark Shmulik, Bernstein, Rob Munoz, Munoz, Charlie Bell, Rachel Thornton, Chris Vonderhaar, Peter DeSantis, DeSantis, Andy Jassy Mike Blake, AWS's, Prasad Kalyanaraman, Kalyanaraman, Amazon's, Bard, Adam Selipsky, Adam Selipsky Noah Berger, Selipsky, Andy Jassy, Jeff Bezos, Jassy, Geekwire Organizations: Amazon Web, AWS, Business, Amazon, SMB, Enterprise, Reuters, Microsoft, Google, BI Locations: Las Vegas, AMZN's, billings

☆ A tiny homes village, where rent is under $300 per month, is being developed to help people experiencing mental illness
▼ + stars: | 2023-08-17 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +5 min

A tiny-home village in North Carolina is being built for people recovering from mental illness. The village will offer those that move into these homes — all of whom struggle with severe mental illnesses — with access to affordable housing, mental health services, and counseling. Mental health and housing go hand-in-hand, according to various studies. A blueprint for future affordable housing developmentsUltimately, Money-Garman hopes the program goes to show that building affordable housing for those in the most need is possible. "Affordable housing is not going to happen unless we all step in and be ready to donate our time or talent or treasure, or all three," she said.

Persons: Penny Lane, Thava Mahadevan, Mahadevan, Garman Organizations: Service, National Alliance, Mental, University of North, XDS, Inc, UNC's Center, Excellent, Health, Spectrum, Residents, Garman Locations: North Carolina, Wall, Silicon, Penny, Pittsboro , North Carolina, Chapel Hill, University of North Carolina, Pittsboro

☆ Julian Salisbury was once considered a contender for Goldman Sachs CEO. Now the asset and wealth management CIO is leaving.
▼ + stars: | 2023-07-28 | by ( Emmalyse Brownstein | Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

Now, Julian Salisbury is leaving Goldman Sachs after 25 years without a replacement. In a memo Friday, CEO David Solomon thanked Salisbury, chief investment officer of the bank's asset and wealth management division, for his "contributions to Goldman Sachs, our clients and our people." Also leaving the bank is Takashi Murata, co-head of Asia Pacific private investing and global co-head of real estate within Goldman Sachs' asset management unit. Nachmann's memo said Richard Spencer will become EMEA head of Real Estate and Nikhil Reddy will become Asia Pacific head of Real Estate. That's part of the virtuous ecosystem of Goldman Sachs," he added.

Persons: Julian Salisbury, Goldman, Goldman Sachs, David Solomon, Salisbury, Marc Nachmann, Takashi Murata, Jim Garman, Nachmann, Richard Spencer, Nikhil Reddy, Richard, Nikhil, Murata, Solomon Organizations: Goldman, Management, GS, Sixth, Wall Street, Asia Pacific, EMEA Locations: Salisbury, Asia Pacific

☆ Amazon cloud executive accused of discrimination, Todd Weatherby, is leaving, internal emails show
▼ + stars: | 2023-01-30 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Todd Weatherby, the former head of the AWS ProServe unit, is leaving Amazon. A former AWS employee accused Weatherby of gender discrimination in a high-profile lawsuit. Todd Weatherby, the former head of Amazon's ProServe cloud unit who was accused of gender discrimination in a high-profile lawsuit, is leaving the company on Jan. 31, according to internal emails viewed by Insider. Amazon cloud executive Matt Garman wrote in one of the emails that Weatherby "decided to leave AWS to pursue his next adventure." "Todd launched the AWS ProServe business in 2012 from a six-pager and led its growth and development for a decade," Garman added.

Far from ignoring Lula's challenges to control the risks of this institutional shock, investors and analysts said however that the focus remains on fiscal issues when assessing the new government in the long term. If the new parameters are considered weak by the market, it could renew fears of fiscal dominance and prevent the BCB from easing." Discussions of the new fiscal framework are key under Lula's administration, after policymakers have highlighted inflationary risks arising from leftist President-elect's 168 billion reais ($32 billion) spending proposal to meet campaign promises. "The unsettled and deeply divided political environment and related high social tension keeps risk premia high and could undermine overall governability." (.JPMEGDBRAR)A mobilized opposition with the "potential to turn violent" is the main conclusion from Sunday's protests for the political risk advisory Eurasia Group.

☆ Homeowners still want space to quarantine and take Zoom calls, even though the worst of the pandemic is over. 3 real-estate experts explain the trends they're seeing.
▼ + stars: | 2022-09-02 | by ( Abigail Bassett | ) www.businessinsider.com time to read: +6 min

Quarantine spaces, flexible rooms, and accessory dwelling units (ADUs), are hot trends right now. The lower level matched exactly the kind of space Trevett was looking to build out. Additional data from the NAHB shows that demand for things like flexible living spaces, dedicated office or Zoom spaces, outdoor spaces, laundry rooms, and home technology has risen during the pandemic. Adding more living space separate from the main home has also become more important for families considering the needs of aging parents and boomerang kids. "Having a dedicated quarantine space gives me a sense of relief," Trevett said.

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