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Search resuls for: "Amazon Web Service"


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Link icon An image of a chain link. It symobilizes a website link url. Link icon An image of a chain link. It symobilizes a website link url. "We believe that each +10 increase in energy costs could result in a $200-$300mm headwind to Q3 EBIT," analysts said.
Persons: Goldman, Goldman Sachs Locations: Wednesday's
Operating income increased over 340% to $11.12 billion, significantly exceeding forecasts of $7.7 billion, according to FactSet, and above the high-end of management's guidance. As a result, the operating income estimate is a more telling metric on how Amazon fared relative to Wall Street's expectations — and make no mistake, it was strong. In the Companywide part of the table, the cost of sales line-item came in above expectations at $75 billion. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Andy Jassy, Jassy, that's, it's, Jim Cramer's, Jim Cramer, Jim, Omar Marques Organizations: Amazon, Services, Revenue, LSEG, Rivian Automotive, Management, North, CNBC, Lightrocket, Getty
Investors are staying bullish ahead of Amazon's quarterly report Thursday as the company's cloud and consumer-focused businesses show signs of strength. Heading into Amazon's earnings announcement, some of the biggest firms were optimistic on the company's growth potential. Anmuth has an overweight rating and price target of $180 on shares, suggesting the stock could jump more than 48%. The firm kept its buy rating and $167 price target on shares, which implies 37.5% upside potential from Wednesday's close. Bank of America says more room for growth ahead Bank of America analyst Justin Post reiterated his buy rating while raising his price target to $154.
Persons: Doug Harrington, Doug Anmuth, Anmuth, Ronald Josey, Mark Mahaney, Morgan Stanley, Amazon Morgan Stanley, Justin Post, Michael Bloom Organizations: Deal, Amazon, Amazon Web Services, JPMorgan, Citi, " Bank of America, Bank of America Locations: Echo, India
NEW YORK (AP) — Amazon on Thursday reported strong revenue and profits from the summer months driven by growth in online sales and its advertising business. Amazon made $9.9 billion in profits, topping analysts' expectations and sending its stocks higher in after-hours trading. Amazon is also seeing strong customer demand across categories like beauty, health and personal care items, Olsavsky said. Meanwhile, Amazon's cloud competitors have delivered mixed results. Earlier this week, Microsoft reported strong revenue for its flagship cloud platform, Azure, while revenue from Google’s Cloud division fell below analysts’ expectations.
Persons: Andy Jassy, Brian Olsavsky, , ” Olsavsky, Olsavsky, , Jassy, FactSet, Lina Khan Organizations: Amazon, Amazon's, Revenue, Web Services, AWS, Microsoft, Google’s, Federal Trade Commission, Big Tech Locations: San Francisco
Amazon Web Services to launch European sovereign cloud
  + stars: | 2023-10-25 | by ( ) www.reuters.com   time to read: +1 min
3D printed clouds and figurines are seen in front of the AWS (Amazon Web Service) cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSTOCKHOLM, Oct 25 (Reuters) - Amazon (AMZN.O) Web Services (AWS) said on Wednesday it will launch a sovereign cloud in Europe for government and customers in highly regulated industries. The sovereign cloud will store data on servers located in the European Union, and only EU-resident AWS employees will have control of the operations and provide support, the cloud-computing division of Amazon said in a statement. Microsoft (MSFT.O) and Oracle (ORCL.N) have also launched their cloud versions for European government customers. AWS will launch first in Germany and make its service available to all European customers.
Persons: Dado Ruvic, Supantha Mukherjee, Christopher Cushing Organizations: REUTERS, Rights, Services, European Union, Amazon, European, Microsoft, Oracle, Thomson Locations: Rights STOCKHOLM, Europe, European Union, Germany, Stockholm
Startup shutdowns will continue at an elevated pace for the next 2 to 3 quarters, according to Peter Walker, head of insights at Carta. There's one big caveat to these concernsThe generative AI boom is firing up demand for AI cloud services. And they're using some of that new money to spend on AI cloud services. The company's cloud growth was healthy in the third quarter, helped by demand for new AI services. The company has been rolling out a slew of AI cloud offerings lately.
Persons: It's, , Carta, Peter Walker, Bernstein, Ruth Porat, Amy Hood, they're, we'll Organizations: Service, Carta, Services, Google, Amazon, Microsoft
Amazon Web Services European Sovereign Cloud will be located within Europe and will be separate to the U.S. technology giant's other cloud operations. As government agencies and critical businesses increasingly move their operations to public cloud operators, like Amazon or Microsoft , there is growing concern in the EU that data is being stored on the servers of non-European firms. Some cloud features may require data to be transferred to and from the EU. And there is a growing worry among businesses and lawmakers that this data could be accessed by entities outside of the EU. Amazon's sovereign cloud is likely an attempt to allay some of those fears.
Persons: Joan Cros Organizations: Web Services, Mobile, Nurphoto, Getty, Amazon Web Services, Sovereign, European Union, EU, Microsoft Locations: Amazon, Barcelona, Spain, Europe
A rebound in digital advertising led to an uptick in revenue and profit for Alphabet, Google’s parent company, but investors were underwhelmed by its cloud computing business, which badly trails those of rivals Microsoft and Amazon. Alphabet reported $76.7 billion in quarterly sales, up 11 percent from a year earlier, and roughly in line with analysts’ estimate of $76 billion, according to data compiled by FactSet. The internet giant said that its profit jumped 42 percent to $19.7 billion, exceeding Wall Street expectations of $18.5 billion. “Investors were disappointed by the relatively weak performance at its Google Cloud Platform, which is at risk of falling further behind” Microsoft Azure and Amazon Web Services, Jesse Cohen, an analyst at investing.com, wrote in a note.
Persons: FactSet, Jesse Cohen Organizations: Microsoft, Google, Web Services, investing.com
Microsoft just shut down Project Airsim, its AI-based drone simulation software that was part of its vision for an "industrial metaverse," Insider has learned. Both projects were considered part of Microsoft's "industrial metaverse." Project Airsim was originally launched as an open-source project in 2017, though it later shifted focus into a product for industrial customers. Microsoft kept Project Airsim around because it believed there were large prospective customers for the product, the person said. Gurdeep Pall, previously head of product incubations and business AI who at one point ran Project Bonsai and most recently ran Project Airsim, left last month after 33 years with the company.
Persons: Airsim, Kevin Scott, Scott, OpenAI ramped, Gurdeep Pall Organizations: Microsoft, Microsoft Chief, OpenAI, Amazon Web Services, Airsim Locations: OpenAI
While enterprise demand stabilized for legacy products, that has not extended to cloud computing, the mainstay for Microsoft and Amazon. Alphabet and Meta are set to benefit from an uptick in digital ad sales ahead of the holiday-shopping season. Last month, media research and investment firm Magna raised its forecast for U.S. ad spending growth to 5.2%, from 4.2%, for calendar 2023. Reuters GraphicsAmazon, however, is expected to be shielded by strong retail sales, thanks to a strong labor market. Meta reports on Wednesday and Apple will round off Big Tech earnings with results next week, on Nov. 2.
Persons: Gil Luria, It's, Rishi Jaluria, Yuvraj Malik, Zaheer Kachwala, Sayantani Ghosh, Savio D'Souza Organizations: Apple, Facebook, Google, Microsoft, D.A, RBC Capital, Nvidia, RBC, Google Services, Magna, Amazon Web Services, Reuters Graphics, Big Tech, Thomson Locations: Davidson, Bengaluru
The top 10 things to watch in the stock market Friday
  + stars: | 2023-10-20 | by ( Jeff Marks | ) www.cnbc.com   time to read: +3 min
The company has reported nine-consecutive quarters of double-digit, year-over-year growth in its international business, and expects sequential revenue growth in the fourth quarter. Deutsche Bank upgrades Union Pacific (UNP) to a buy rating, while slightly raising its price target to $258 a share, up from $257. Wolfe Research upgrades Club holding Morgan Stanley (MS) to a neutral-equivalent rating from underperform, without a price target. Goldman Sachs lowers its price target on Club name Walt Disney (DIS) to $125 a share, down from $128, while maintaining a buy rating on the stock. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Eli Lilly, Jim Vena, Morgan Stanley, Wednesday's, Goldman Sachs, Walt Disney, Jim Cramer's, Jim Cramer, Jim Organizations: American Express, Revenue, Schlumberger, UBS, General Motors, United Auto Workers, Ford, Stellantis, Bloomberg, Deutsche Bank, Union Pacific, Wolfe Research, JPMorgan, Club, North, Walt, Jim Cramer's Charitable, CNBC Locations: GLP, North American
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Next week, we run the earnings gauntlet with 10 companies in the Club's portfolio reporting. 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, Stanley Black, Decker, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Treasury, West Texas, Microsoft, Honeywell, Linde, LIN, Amazon Web, Ford, Jim Cramer's Charitable
U.S. retail sales for last month came in much stronger than expected on Tuesday, signaling shoppers were not deterred by sticky inflation. Before the opening bell, the government reported September retail sales rose 0.7% from the prior month — more than double the estimates. Measuring year over year, the 3.8% increase in retail sales was still slightly higher than the CPI's advance of 3.7%. The retail sales data pointed to a resilient economy despite inflation still running way above the Federal Reserve's 2% target. TJX YTD mountain TJX Companies YTD Clothing and clothing accessories stores were down 0.8% month-over-month but increased 0.1% year-over-year.
Persons: Jim Cramer, We're, TJX, Jim Cramer's, Jim, Jamie Kelter Davis Organizations: Atlanta, Deal, Web Services, Food, Companies, CNBC, Shoppers, Bloomberg, Getty Locations: Maxx, Chicago
If the world's leading AI researchers use Llama, Meta could have an easier time hiring skilled technologists who understand the company's approach to development. Spisak helped oversee PyTorch and other open source AI projects when he worked at Meta from 2018 until January 2023. Although a number of open source LLMs are available, Lambert said Llama 2 is by far the most popular. "Facebook was not and that's sort of how they move forward and democratizing this, giving sort of broad access to open source. However, open source doesn't always win, and Padval acknowledged that "in this case, I don't know how it's going to evolve."
Persons: Mark Zuckerberg, Josh Edelson, Mark Zuckerberg's multibillion, Joseph Spisak, that's, Zuckerberg, Meta, Andrew Bosworth, Yann LeCun, isn't, Susan Li, Spisak, Cai GoGwilt, GoGwilt, OpenAI's, Ahmad Al, Dahle, he's, Jim Fan, Arjun Bansal, Jensen Huang, Nathan Lambert, Lambert, Critics, Umesh Padval, " Lambert, Nvidia's, Fan, Meta's, Taka Ariga, Ariga, Claude, Elon Musk, Tesla, Nur Hamdan, OpenAI's GPT, Sam Altman, Guido Appenzeller, Thomvest's Padval, Padval Organizations: Meta, AFP, Getty, Microsoft, Industry, Linux, Microsoft Windows, Facebook, Twitter, Finance, Google, AI Research, FAIR, Apple, Nvidia, Web Services, Thomvest Ventures, TC Cowen, United, United Arab Emirates, U.S, Government, AWS, Bloomberg, Amazon, VMware, Intel, Red Hat Locations: Menlo Park , California, Taiwan, United Arab, Washington, Elon, Hamadan, Seoul, South Korea
Nearly all tech companies will integrate generative AI by the end of 2024. Respondents said they expected to use generative AI for customer support, content generation and productivity. Google Cloud Google Cloud was the third most likely cloud provider in Oppenheimer's survey to gain future AI spending share. Salesforce and AI Oppenheimer analysts said they see "durable tailwinds for customer support, content generation and code generation, which are considered priority use cases for Generative AI." We agree with this call and are in the camp that Salesforce's generative AI tools should help reaccelerate sales growth all while balancing increasing margins.
Persons: Oppenheimer's, Oppenheimer, Piper Sandler, Copilot, Piper, we've, Salesforce, Jim Cramer's, Jim Cramer, Jim, Dado Ruvic Organizations: Microsoft, Web Services, Google, Meta, AI, Adobe, CNBC Locations: OpenAI, Jasper
In this article COSTMUINTCMETAAMZN Follow your favorite stocks CREATE FREE ACCOUNTAn Amazon delivery truck at the Amazon facility in Poway, California, Nov. 16, 2022. Investors seeking a sense of direction can turn to analysts who identify companies that have lucrative long-term prospects and the ability to navigate near-term pressures. To that end, here are five stocks favored by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. JPMorgan analyst Doug Anmuth noted the recent sell-off in AMZN stock and highlighted certain investor concerns. Also on investors' mind is Amazon Web Services' growth, with multiple third-party data sources indicating a slowdown in September.
Persons: Sandy Huffaker, Wall, Doug Anmuth, Anmuth, TipRanks, Needham, Quinn Bolton, Bolton, Sidney Ho, Ho Organizations: MU, Reuters Investors, Investors, JPMorgan, Federal Trade, Meta, Meta Connect, Intel, Systems Business, PSG, Bolton, TipRanks, Micron Technology, Deutsche Bank, Micron, Costco Locations: Poway , California
China's Ministry of Commerce has previously accused the U.S. of abusing export controls and called for it to "stop its unreasonable suppression of Chinese companies." Washington has been working to close other loopholes that allow the AI chips into China. In August, it told Nvidia and AMD to restrict shipments of the AI chips beyond China to other regions, including some countries in the Middle East. Sources said the new rules on AI chips expected this month will likely apply those same restrictions more broadly to all companies in the market. But sources say the Biden administration is grappling with that issue as well.
Persons: Florence Lo, Biden, Greg Allen, Hanna Dohmen, George, CSET, Timothy Fist, Alexandra Alper, Karen Freifeld, Chris Sanders, Anna Driver Organizations: REUTERS, United, Reuters, Center for Strategic, International Studies, Commerce Department, Embassy, China's Ministry of Commerce, U.S, Georgetown University's Center for Security, Emerging Technology, International Affairs, George Washington University’s School of International Affairs, Nvidia, Xilinx, Intel, AMD, Amazon Web Services, Washington, New, New American Security, Thomson Locations: United States, Beijing, China, U.S, Shenzhen . Washington, Singapore, Washington, Georgetown, Microsemi . Washington, New American
The AI boom has triggered a surge in spending on data centers. The AI boom has supercharged a wave of spending on data centers. AdvertisementAdvertisementThe data center boom is set to double or triple the amount of energy consumed by these data centers. A recent Cowen research report estimated that AI data centers could require more than five times the power of traditional facilities. Amazon does not disclose how many data centers it occupies, where they are located, or how much electricity they consume.
Persons: , ChatGPT, it's, Jonathan Gray, Cowen, Marc Ganzi, Shaolei Ren, Tom Keane, Keane, Bernstein, Mark Moerdler, Jahi, Matt McCollister, Pena Popo, Blackstone, Karla Moran, Moran Organizations: Service, McKinsey, Nvidia, UC Riverside, Microsoft, Washington, Getty, Lincoln Property Company, Harrison Street, Google, Meta, Amazon, Blackstone, Income Trust, QTS Realty Trust, Amazon Web Services, AP, Phoenix Locations: America, Rural America, Loudoun Meadows, Aldie , VA, Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Washington, DC, Virginia, New York City, Salt
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAWS CEO: Generative AI will 'pretty much change' every application consumers interact withAmazon Web Services CEO Adam Selipsky joins 'Squawk on the Street' to discuss how artificial intelligence has internally changed AWS' business, how the new technology may have changed the tech company's workforce deployment, and the potential for job destruction with AI.
Persons: Adam Selipsky Organizations: Amazon Web
Artificial intelligence chatbots can write corporate memos, compose new episodes of The Office in iambic pentameter and potentially land you a lucrative new job. Nearly three-quarters of CEOs call generative AI a "top investing priority," according to a recent survey conducted by KPMG, an international professional services network. They're spending on AI in the hopes of increased profitability, innovation and security for their companies, respondents said. More than half of the survey's participants said they're spending more money on new technology than training current employees. The average job posting involving generative AI skills offers a $138,232 salary, says a September report from job search platform Adzuna.
Persons: Jay Shankar Organizations: KPMG, Amazon Web Services, CNBC
Chipmaker Nvidia canceled its AI Summit in Tel Aviv which had sessions on topics like AI and LLMs. Some Israeli tech CEOs and VCs are even volunteering for military service to help out in the war. On its website, Nvidia highlighted over 6,000 startups in Israel with investments from VCs, which makes it "one of the world's most vibrant technology hubs." AdvertisementAdvertisementThe event was supposed to have 60 sessions on topics about AI, LLMs, cybersecurity, autonomous vehicles and more. Some Israeli tech CEOs and VCs are volunteering for army service to help out in the war against Hamas.
Persons: , Benjamin Netanyahu, Jensen Huang, Itamar Friedman, Shmuel Chafets Organizations: Nvidia, Hamas, Service, Gaza Ministry, Health, CNBC, Microsoft, Amazon Web Services, Lenovo, Target Locations: Tel Aviv, Israel, Gaza, Snowflake, VCs
Nvidia canceled its AI conference in Tel Aviv next week due to safety concerns, as Israel ordered a siege of Gaza following the Hamas attack on Israel over the weekend. Nvidia had scheduled its in-person AI summit, with a keynote by CEO Jensen Huang, for Oct. 15 and 16 in Tel Aviv, billing the event as "the #1 conference for developers, business leaders, and AI researchers." Nvidia, the world's largest AI chipmaker, can't keep up with industrywide demand for its chips. Most of the summit's planned speakers are key figures at Nvidia, such as Kimberly Powell, vice president of health care; Deepu Talla, vice president of embedded and edge computing; and Gilad Shainer, senior vice president of networking and high-performance computing. "We regret to inform you that due to the current situation in Israel, we have decided to cancel AI SUMMIT," Nvidia announced on the event's website.
Persons: Jensen Huang, Kimberly Powell, Deepu Talla, Gilad Shainer Organizations: Nvidia, Revenue, CNBC, supercomputing, Microsoft, Amazon Web Services, Lenovo Locations: Tel Aviv, Israel, Gaza
It was going to really take me to that next level and lead me to my dream job. So I was like, "Wow, I'm going to work for Amazon. I'm going to put you into a Pivot program." Well of course I'm going to leave because I'm not that stupid. I lost $110,000 that there's no way I'm going to get back.
Persons: , I'm, TAMs, we're, he'd, wasn't, I've, Slack, I'd, that's Organizations: Amazon, Service, Amazon Web Services, LinkedIn, TAM
Ofcom said it had identified features that made it more difficult for UK businesses to use multiple cloud suppliers. Amazon Web Services (AWS) and Microsoft had a combined 70-80% share of Britain's public cloud infrastructure services market in 2022, Ofcom said. Microsoft said it was committed to ensuring the UK cloud industry remained innovative and highly competitive. The CMA welcomed the move, saying effective competition in the 7.5 billion pound ($9.1 billion) UK market was essential. Google Vice President Amit Zavery said Ofcom's referral demonstrated the need to create an open cloud market with no vendor lock-in.
Persons: Dan Ridsdale, Edison, Dado Ruvic, Fergal Farragher, Amit Zavery, Yadarisa, Paul Sandle, Foo Yun Chee, Mark Potter, Jan Harvey, Jacqueline Wong, Jane Merriman Organizations: CMA, Microsoft, Ofcom, Amazon Web Services, Google, U.S . Federal Trade Commission, Markets, REUTERS, Cloud Infrastructure Services, Amazon, MICROSOFT, Activision Blizzard, Reuters, Thomson Locations: Britain, France, Japan, The Netherlands, South Korea, China, EU, Europe, Bengaluru, London, Brussels
Ofcom said it had identified features that made it more difficult for UK businesses to use multiple cloud suppliers. Amazon Web Services (AWS) and Microsoft had a combined 70-80% share of Britain's public cloud infrastructure services market in 2022, Ofcom said. Microsoft said it was committed to ensuring the UK cloud industry remained innovative and highly competitive. UK businesses told Ofcom they were concerned it was too difficult to switch or mix and match cloud providers. Google vice president Amit Zavery said Ofcom's referral demonstrated the need to create an open cloud market with no vendor lock-in.
Persons: Dado Ruvic, Ofcom, Fergal Farragher, Amit Zavery, Yadarisa, Paul Sandle, Lincoln, Susan Fenton, Mark Potter, Jan Harvey Organizations: REUTERS, CMA, Ofcom, Microsoft, Amazon Web Services, Google, Markets, AWS, Reuters, Thomson Locations: Bengaluru, London
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