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☆ Jim Cramer shares his thoughts on J&J, Ollie’s Bargain Outlet, Fox, Intel and Snowflake
▼ + stars: | 2024-04-05 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

Johnson & Johnson : J & J agreed to buy medical technology company Shockwave Medical for $12.5 billion . The deal is expected to be dilutive to earnings per share early on, Jim Cramer said, though he acknowledged there's aspects to like. "The reason I like Shockwave is [J & J wants] to own the operating room, and this has a lot of AI. Ollie's Bargain Outlet : Shares rose more than 3% after analysts at Loop Capital upgraded the retailer to buy from hold. Snowflake : Following the stock's recent post-earnings and leadership-change pullback , analysts at Rosenblatt Securities upgraded the stock to a buy rating.

Persons: Jim Cramer's, Johnson, Jim Cramer, Cramer, they've, Bernstein, Sridhar Ramaswamy, it's Organizations: CNBC, Club, Johnson, Loop, TJX Companies, Costco . Fox Corp, Seaport Research, Fox, Intel, Rosenblatt Securities

☆ Stocks making the biggest moves midday: RH, Reddit, Estée Lauder, AMC and more
▼ + stars: | 2024-03-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday. Estée Lauder — Shares jumped 6.28% after Bank of America upgraded them to buy from neutral. AMC Entertainment — Shares dropped 14.29% after the movie theater chain said in a filing it will sell $250 million worth of stock. Verint Systems — Shares added 6.63% after the customer engagement solutions provider surpassed fourth-quarter earnings per share and revenue expectations. Braze anticipates a loss of 10 cents to 11 cents per share for its first quarter, versus a 5 cents loss expected from analysts polled by FactSet.

Persons: Estée Lauder —, Steve Ladd Huffman, Jennifer Wong, Chemours, Sridhar Ramaswamy, FactSet, Synnex, TD Synnex, MillerKnoll, Braze, —, Alex Harring, Hakyung Kim, Pia Singh, Jason Kempin Organizations: Bank of America, New York Stock Exchange, AMC, Verint Systems, Apollo Global Management, FactSet, Allstate, HSBC, Getty

☆ Snowflake is doubling down on data clean room tech as it forges deeper ties with the ad industry
▼ + stars: | 2024-03-28 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

"Our expectation in the next year is that people will be talking less about the tech and actually understand the value," of Snowflake's data clean room, Stratton said. The clean room space is competitive and marketers intend to spend more on the techUltimately a data clean room is only as valuable as the customers who share data within it — even when it's being offered for free. "Clean rooms are no longer competing against other clean rooms only," said Wayne Blodwell, the CEO of the programmatic advertising company Impact Media. AdvertisementThe global data clean room market has accelerated in the last two years. The report found that these companies, on average, spent $879,000 on data clean room tech in 2022.

Persons: —, influencers, Kamakshi Sivaramakrishnan, Samooha, AdExchanger, Sivaramakrishnan, Snowflake, Bill Stratton, Snowflake's, Time Warner, Stratton, it's, Wayne Blodwell, Sridhar Ramaswamy Organizations: Service, Business, Amazon Web Services, Microsoft, Snowflake Ventures, LinkedIn, Google, Time, Impact Media, Deloitte Digital Locations: Snowflake, Samooha

☆ Cloud software buyers are getting frugal, leading to slower growth at former highfliers
▼ + stars: | 2024-03-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

In 2020, as data analytics software vendor Snowflake was hitting the public market, one of the key stats it was touting to investors was net revenue retention. Snowflake's NRR at the time was 158%, meaning its existing customer base from a year earlier had increased its total spend by 58%. "More pressure on churn (as companies look to reduce point solutions in favor of platforms) and more difficult upsells have pushed net retention down," Ball added. Twilio , which sells cloud-based communications software, reported NRR of 102% in February, with just 5% year-over-year revenue growth. Almost all of Twilio's revenue comes from its division that contains technology for sending text messages and emails.

Persons: Snowflake, Chris Taylor, NRR, Wall, Snowflake's NRR, Aidan Viggiano, Mike Scarpelli, Sridhar Ramaswamy, Frank Slootman Organizations: New York Stock Exchange, NYSE, Nasdaq, Representatives Locations: Snowflake, U.S, Twilio

☆ The tech CEO who quietly built a bigger fortune than Tim Cook
▼ + stars: | 2024-03-04 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Former Snowflake CEO Frank Slootman has achieved vast wealth as a non-founding tech exec. Bloomberg pegs his net worth at $3.7 billion — higher than both Tim Cook and Satya Nadella. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe wildly successful and outspoken tech executive who just stepped down as CEO of Snowflake may not be as well-known as Apple's Tim Cook or Microsoft's Satya Nadella — but he's wealthier than both.

Persons: Frank Slootman, Tim Cook, Satya Nadella, He's, —, Nadella, Cook, Slootman, Snowflake, Peter Thiel, Elon Musk, Palmer, Katie Warren, Sridhar Ramaswamy Organizations: Snowflake, Bloomberg, Service, ServiceNow Inc, Data, Google Locations: Netherlands

☆ Snowflake's Slootman says he's not worried about employee exodus: 'This is not a personal cult'
▼ + stars: | 2024-02-29 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

While the announcement caused consternation on Wall Street, Slootman told CNBC that he's not worried about a wave of Snowflake employees following him out the door. Slootman, 65, is being succeeded by former Google ad chief Sridhar Ramaswamy, who joined Snowflake in June via the company's $185 million purchase of Neeva, a startup Ramaswamy co-founded in 2019. Snowflake was the third enterprise technology company that Slootman shepherded through the IPO process, following Data Domain in 2007 and ServiceNow in 2012. Before joining Snowflake, Slootman spent about six years as CEO of ServiceNow . ServiceNow's workforce stood at 23,668 by the end of 2023, compared with 603 in December 2011, months after Slootman had joined, according to regulatory filings.

Persons: Frank Slootman's, Slootman's, Slootman, he's, Sridhar Ramaswamy, Snowflake, ServiceNow, —, There's, George Floyd, Steve Jobs Organizations: Snowflake, New York Stock Exchange, Mizuho Securities, CNBC, Google Locations: ServiceNow, Snowflake, America

☆ Snowflake shares drop 20% on CEO's retirement, weak guidance
▼ + stars: | 2024-02-29 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Snowflake said its first-quarter product revenue will total between $745 million and $750 million, compared to analysts' estimates of $759 million, per StreetAccount. The company said adjusted operation margin in the first quarter will be 3%, below the 7.2% analysts expected. mitigate C-suite uncertainty," the analysts wrote to investors in a Thursday memo. The company shut down its product and was acquired by Snowflake for $185 million last year. Before Slootman's tenure, Snowflake was helmed by former Microsoft executive Bob Muglia until his sudden ousting in April 2019.

Persons: Snowflake, Frank Slootman, Sridhar Ramaswamy, Slootman, Morgan Stanley, Ramaswamy, Bob Muglia, — CNBC's Michael Bloom, Jonathan Vanian Organizations: Google, Macquarie Equity Research, Microsoft, CNBC PRO Locations: Snowflake

☆ Snowflake's outgoing and incoming CEOs talk earnings with Jim Cramer
▼ + stars: | 2024-02-28 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnowflake's outgoing and incoming CEOs talk earnings with Jim CramerSridhar Ramaswamy, incoming Snowflake CEO, and Frank Slootman, outgoing Snowflake CEO, joins 'Mad Money' host Jim Cramer to talk earnings, guidance and more.

Persons: Jim Cramer Sridhar Ramaswamy, Frank Slootman, Jim Cramer Organizations: Snowflake

☆ Snowflake says Frank Slootman is retiring as CEO; stock plunges more than 20%
▼ + stars: | 2024-02-28 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Frank Slootman, CEO of Snowflake, on the day of the company's initial public offering on Sept. 16, 2020. Snowflake said Wednesday that billionaire CEO Frank Slootman, who joined the cloud software company in 2019 and took it public the following year, is retiring and will be replaced by former Google ad chief Sridhar Ramaswamy. Slootman, 65, previously led software vendor ServiceNow into the public markets and before that led Data Domain. Operating losses for the fourth quarter were $275.5 million, up from $239.8 million during the fourth quarter of the previous year. As of Feb. 9, Slootman owned 10.6 million Snowflake shares, according to a regulatory filing.

Persons: Frank Slootman, Snowflake, Sridhar Ramaswamy, Slootman, Ramaswamy, Sridhar, Bob Muglia, Muglia, — CNBC's Jennifer Elias, Jordan Novet Organizations: Google, Data, New York Stock Exchange, Microsoft Locations: Snowflake, Neeva, Wednesday's

☆ Generative AI will democratize access to enterprise data, says incoming Snowflake CEO Ramaswamy
▼ + stars: | 2024-02-28 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGenerative AI will democratize access to enterprise data, says incoming Snowflake CEO RamaswamySridhar Ramaswamy, incoming Snowflake CEO, and Frank Slootman, outgoing Snowflake CEO, joins 'Mad Money' host Jim Cramer to talk earnings, guidance and more.

Persons: Ramaswamy Sridhar Ramaswamy, Frank Slootman, Jim Cramer Organizations: Snowflake

☆ New Snowflake CEO says generative AI will keep him 'busy for many years to come'
▼ + stars: | 2024-02-28 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday spoke with Snowflake 's outgoing CEO Frank Slootman and new leader Sridhar Ramaswamy, who said the company has big plans to make use of generative artificial intelligence. "So I think there's a huge opportunity in the world of data applications and AI that'll keep me busy for many years to come." Ramaswamy joined Snowflake in June of last year when it acquired his company, Neeva. Slootman took the reins at Snowflake in 2019 after he had retired as CEO of ServiceNow . "I don't want to be one of those quarterbacks who doesn't know how to get off the field, you know.

Persons: CNBC's Jim Cramer, Snowflake, Frank Slootman, Sridhar Ramaswamy, I've, Ramaswamy, Neeva, Slootman, doesn't, I'm Organizations: Google, Commerce Locations: Snowflake

☆ Snowflake's Frank Slootman vehemently denied a BI report in June that he may be leaving. Now he's gone and the stock is down 20%.
▼ + stars: | 2024-02-28 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +1 min

Snowflake's Frank Slootman just announced his retirement. BI reported last year on rumors of Slootman's impending departure. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen Business Insider approached Snowflake CEO Frank Slootman in June to ask him if internal chatter about his impending retirement was right, Slootman said it was "completely untrue." You are regurgitating competitive FUD," Slootman wrote in an email to BI in June in his famously direct, no-nonsense style.

Persons: Snowflake's Frank Slootman, —, Snowflake, Frank Slootman, Slootman, Sridhar Ramaswamy, Ellen Thomas Organizations: Service Locations: Snowflake

☆ Google engaged in a monopolistic feedback loop to maintain search dominance, DOJ alleges in first day of trial
▼ + stars: | 2023-09-12 | by ( Lauren Feiner | ) www.cnbc.com time to read: +12 min

That popularity, the company says, is why browser and phone makers have chosen Google as their default search engine through revenue sharing agreements. It will also hear from Apple's Senior Vice President of Services Eddy Cue and Mozilla CEO Mitchell Baker, Google's lawyer said. Following opening statements, the DOJ lawyer questioned its first witness, as it begins what's known as its "case-in-chief." But it's important browsers pick the right search default, Schmidtlein said, as Mozilla learned when it switched its default from Google to Yahoo in 2014. WATCH: DOJ takes on Google in antitrust lawsuit over Google Search

Persons: Jonathan Kanter, Kevin Dietsch, Sundar Pichai, Services Eddy, Mitchell Baker, Google's, Sridhar Ramaswamy, Neeva, Hal Varian, Ting Shen, Varian, Kenneth Dintzer, Dintzer, Ditzner, Patterson Belknap Webb, William Cavanaugh, Joan Braddi, Braddi, Siri, Cavanaugh, Kent Walker, Williams, Connolly's John Schmidtlein, Schmidtlein, Denelle Dixon, Apple Organizations: Antitrust, Department of Justice, Getty, Google, Colorado, Washington , D.C, Apple's, Services, Mozilla, DOJ, AGs, Google Inc, Bloomberg, Microsoft, Federal Trade Commission, Apple, Samsung, Branch, Global Affairs, Inc, Yahoo, TechCrunch, CNBC, YouTube Locations: Washington , DC, Washington ,, Snowflake, Colorado, Siri

☆ Snowflake shares plunge 12% on guidance miss, acquisition of search startup Neeva
▼ + stars: | 2023-05-24 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

The bulk of Snowflake sales come from product revenue, which expanded 50% year over year. Product revenue accounts for use of Snowflake's software for storing and running queries on data stored in its system. Snowflake said it anticipates product revenue will be between $620 million and $625 million in the fiscal second quarter. For the 2024 fiscal year, Snowflake called for product revenue of $2.6 billion. Snowflake also announced it plans to acquire Neeva, the privacy-focused search company co-founded by former Google executive Sridhar Ramaswamy.

Persons: Snowflake, Sridhar Ramaswamy, Benoit Dageville, Snowflake's, Dageville, CNBC's Ashley Capoot Organizations: New York Stock Exchange, Refinitiv Revenue Locations: Tues, Snowflake

☆ Neeva, co-founded by a former Google exec, to shut down its consumer search product and focus on A.I.
▼ + stars: | 2023-05-20 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Neeva, the privacy-focused search company co-founded by former Google executive Sridhar Ramaswamy, announced Saturday that it is shutting down its consumer search engine and will focus on exploring use cases for artificial intelligence. In a blog post on the company's website, Ramaswamy and Vivek Raghunathan, another Neeva co-founder, wrote that "acquiring users has been really hard." They said this challenge, in addition to the "different economic environment," have made it clear that a business in consumer search is not sustainable. Neeva will explore use cases for generative AI and large language models in search going forward, according to the post. Neeva.com and its consumer search product will shut down over the next few weeks.

☆ Microsoft should throw billions at Apple to make Bing the default iPhone search engine, says a former Google exec
▼ + stars: | 2023-03-22 | by ( Hugh Langley | ) www.businessinsider.com time to read: +2 min

A former Google exec thinks Microsoft should outbid Google to land the default iPhone search spot. Landing the default search spot on the iPhone could disrupt Google's search dominance. If Microsoft wants to really throw Google's business into turmoil, it should offer Apple billions of dollars to become the iPhone's default search engine. Google currently pays an estimated $15 billion a year to be the default search engine on the more than 1 billion Apple devices globally, including the iPhone. While Google has launched its competitor to ChatGPT, known as Bard, it is not currently integrated into Google Search.

☆ Ex-Google exec says Microsoft has 'thrown down the gauntlet' on web search with AI-boosted Bing
▼ + stars: | 2023-02-11 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

An ex-Google exec said Microsoft had "thrown down the gauntlet" with its new Bing search engine. On Tuesday, Microsoft launched an upgraded version of Bing powered by new artificial intelligence. Microsoft launched its AI-boosted version of Bing on Tuesday, the day after Google announced plans to incorporate AI technology into its own search engine. Ramaswamy told Insider that both Google and Microsoft were "ahead of the pack with respect to foundational technology and investment in AI." He added: "All of this can take away from the narrative of Google being the premier search engine."

☆ Neeva founder: AI will have a lot of impact on daily human life
▼ + stars: | 2023-02-06 | 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 EmailNeeva founder: AI will have a lot of impact on daily human lifeSridhar Ramaswamy, a former Google executive and co-founder of search start-up Neeva, joins 'Squawk Box' to discuss the ethics behind artificial intelligence and its application.

☆ Google's management has reportedly issued a 'code red' amid the rising popularity of the ChatGPT AI
▼ + stars: | 2022-12-21 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Google issued a "code red" in response to the rise of AI bot ChatGPT, NYT reports. CEO Sundar Pichai redirected some teams to focus on building out AI products, per the report. The move comes as talks abound over whether ChatGPT could one day replace Google's search engine. ChatGPT "is not something that people can use reliably on a daily basis," Zoubin Ghahramani, who leads the Google's A.I. Instead, Google may focus on improving its search engine over time rather than taking it down, experts told the Times.

☆ Google execs say the company isn't launching a ChatGPT competitor because it has greater 'reputational risk' than startups like OpenAI
▼ + stars: | 2022-12-14 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

Employees asked execs if failing to launch a chatbot like OpenAI's ChatGPT is a "missed opportunity," CNBC reported. Alphabet's CEO and Google's head of AI said the company has a greater "reputational risk" than startups like OpenAI. ChatGPT reached over one million users within five days of its launch, and is backed by Google's rival, Microsoft. In addition to LaMDA, Google's BERT and MUM AI language models, which are used to improve its search engine, are competitive with ChatGPT. A former Google executive told Bloomberg that ChatGPT could "disrupt" Google's ad business by stopping users from clicking links that have ads.

☆ ChatGPT May Hurt Google's Ad Business Model, Former Exec Says: Report
▼ + stars: | 2022-12-07 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

The AI-bot ChatGPT could "disrupt" Google's business model, according to a former Google exec. Sridhar Ramaswamy told Bloomberg that ChatGPT offers a better search experience than Google. Sridhar Ramaswamy, who led Google's ad team between 2013 and 2018, said that ChatGPT could "disrupt" Google's business model by preventing users from clicking on links with ads. "It's just a better experience," Ramaswamy told Bloomberg. "The goal of Google search is to get you to click on links, ideally ads, and all other text on the page is just filler."

☆ Marissa Mayer says Google is concerned about the declining quality of the web
▼ + stars: | 2022-11-16 | by ( Tom Dotan | ) www.businessinsider.com time to read: +3 min

Google worries website quality is declining, according to one of the company's earliest executives. Marissa Mayer, one of Google's earliest employees and a onetime leader of its search team, said that's because Google is concerned about the declining quality of the web. She made the comments on the Freakonomics podcast in an episode that looked into whether the quality of Google search has declined. Her comments about the state of Google search come at a time when criticism of the service is rising. People have complained about the declining quality of search results and the need to include search terms like "Reddit" in a query to find answers written by humans.

☆ Google search is dealing with a flood of AI-generated content and can't figure out how best to handle it
▼ + stars: | 2022-11-14 | by ( Tom Dotan | ) www.businessinsider.com time to read: +5 min

Experts predict the web will be flooded with AI-generated content as the technology improves. Patel, who blogged about the experiment, reached the conclusion that Google had finally come for the robots and their AI-generated content. If Google did nothing, the majority of pages that people visit through Google search could one day feature content written only by AIs. Even if Google wants to down rank AI-generated content, the growing sophistication of the technology could make that hard to do. Of course, if Google does view AI as a major threat to search quality, it only has itself to blame.

☆ Thousands of workers were laid off this week as tech companies and startups brace for an economic crash. Investors, founders, and recruiters explain why this is just the beginning.
▼ + stars: | 2022-11-05 | by ( Rob Price | Samantha Stokes | ) www.businessinsider.com time to read: +10 min

Amid growing economic uncertainty, layoffs in the technology industry, both for public companies and for startups, have been escalating this Fall. While plenty of tech companies were still flying high in early 2022, Russia's invasion of Ukraine in February accelerated global economic turmoil. More than 17,000 tech workers lost their jobs in both May and June, while July and August saw another 29,000 cuts, according to layoff tracker Layoffs.fyi. Davis, the VC at Interplay, explained that cost-cutting and layoffs are happening across the board, not just in the tech industry. But public tech companies as well as early- and growth-stage startups will face additional challenges, he said.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther tests $1,300 level, and new crypto trading service comes to Europe: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Sridhar Ramaswamy, the former head of Google's ad business, discusses his new Web3 search startup.

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