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☆ Microsoft debuts first Surface PCs with dedicated Copilot AI button
▼ + stars: | 2024-03-21 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Microsoft is releasing its first Surface PCs featuring a dedicated Copilot button on the keyboard for quickly accessing the chatbot, following through on a promise it made in January. The addition of the button, to the left of the arrow keys, represents the biggest change to the computer keyboard in decades. While Microsoft is not the largest PC seller — that distinction belongs to Lenovo — it does run the most popular operating system with Windows. Lenovo has announced its own PCs featuring Copilot keys, as have Dell and HP. When people type a few words in to the Copilot, which draws on AI models from Microsoft-backed OpenAI, servers in faraway data centers perform the necessary computing work to craft a response.

Organizations: Microsoft, Lenovo, Windows, Dell, HP, Business

☆ 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

Mustafa Suleyman, Co-founder Inflection.ai & DeepMind, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Microsoft said Tuesday it has hired Mustafa Suleyman, a co-founder of artificial intelligence startup DeepMind that Google acquired in 2014, to lead Copilot AI initiatives. Suleyman will become an executive vice president and CEO of Microsoft AI, reporting to CEO Satya Nadella. The new Microsoft AI group will work on Copilot, which appears in Bing, Windows and other Microsoft products. WATCH: We've hit 'peak hype' of the AI revolution, says DeepMind co-founder Mustafa Suleyman

Persons: Mustafa Suleyman, Inflection.ai, Suleyman, Satya Nadella, DeepMind, Elon Musk, Karén, Nadella, Mustafa, Demis Hassabis, Hassabis Organizations: Microsoft, Google, Windows, Consumer Locations: Davos, Switzerland, Bing

☆ HashiCorp shares jump on report that company is considering a sale
▼ + stars: | 2024-03-15 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

HashiCorp shares jumped 12% in extended trading on Friday after Bloomberg reported the software developer was considering a sale. The company has engaged an outside firm to explore interest from potential buyers, Bloomberg said, citing unnamed sources. As of Friday's close, HashiCorp was trading at $26.50, or 67% below its initial public offering price. Mitchell Hashimoto, a co-founder and former technology chief of HashiCorp, said in December that he was leaving the company. WATCH: HashiCorp CEO McJannet talks enterprise software

Persons: didn't, HashiCorp, David McJannet, Mitchell Hashimoto, Read, McJannet Organizations: Bloomberg, Nasdaq

☆ Adobe shares slip 10% on soft sales forecast
▼ + stars: | 2024-03-14 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor of the New York Stock Exchange on Feb. 20, 2024. During the quarter, Adobe abandoned its $20 billion acquisition of design software startup Figma after U.K. regulators found competitive concerns. Adobe will work with OpenAI around Sora, David Wadhwani, president of Adobe's digital media business, said on the earnings call. Adobe sees fiscal second-quarter earnings of $4.35 to $4.40 per share on an adjusted basis, with $5.25 billion to $5.30 billion in revenue. Leaving out the after-hours movement, Adobe shares have fallen 4% so far this year, while the S&P 500 index has gained 8% over the same time period.

Persons: Shantanu Narayen, OpenAI, Sora, David Wadhwani, LSEG, Wadhwani Organizations: CNBC, New York Stock Exchange, Adobe, LSEG, Firefly Services Locations: Sora

☆ Microsoft says new AI security chatbot pricing model lets customers 'buy what they need'
▼ + stars: | 2024-03-13 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Microsoft is rolling out an unorthodox pricing model for its new security chatbot that becomes available to the public on April 1. Microsoft considered input from early customers as well as the costs of tapping OpenAI's LLMs that process users' prompts, Vasu Jakkal, a corporate vice president at Microsoft, told CNBC. Microsoft charges for use of its Azure OpenAI Service based on the number of tokens a client uses. BP is an early customer of the new security service. Copilot for Security can answer questions by drawing on information from Microsoft's own security products and third-party providers.

Persons: Satya Nadella, Nadella, Andrew Conway, Conway, Vasu Jakkal, Chip Calhoun, Copilot, UnitedHealth Organizations: Microsoft, Security, Gaming, Activision Blizzard, Windows, Dynamics, CNBC, OpenAI, BP Locations: Seoul, Charlotte, Russian

☆ Oracle shares surge 12% and head for record close
▼ + stars: | 2024-03-12 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Safra Catz, CEO of Oracle Corporation, rings the opening bell at the New York Stock Exchange, July 12, 2023. Oracle stock spiked more than 12% during intraday trading on Tuesday and is on pace for a record close, a day after the company reported fiscal third-quarter earnings that beat analysts' expectations. They're also on pace for the biggest gain since Dec. 10, 2021, when Oracle stock closed up 15.6%. Deutsche Bank lifted its price target on Oracle shares to $150 from $135, noting CEO Safra Catz reiterated fiscal 2026 guidance and strong cloud infrastructure results. Analysts at Bernstein Research, who have the equivalent of a buy rating on Oracle stock, bumped up their price target to $159 from $147.

Persons: Safra Catz, They're, Leswing, Jordan Novet Organizations: Oracle Corporation, New York Stock Exchange, Oracle, Deutsche Bank, UBS, Bernstein Research

☆ OpenAI denies Elon Musk lawsuit claim that there ever was founding agreement
▼ + stars: | 2024-03-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

OpenAI has challenged a foundational claim Tesla CEO Elon Musk made in the lawsuit he filed against the startup earlier this month. "There is no Founding Agreement, or any agreement at all with Musk, as the complaint itself makes clear," OpenAI said in a document on file with California's superior court for San Francisco County. "The Founding Agreement is instead a fiction Musk has conjured to lay unearned claim to the fruits of an enterprise he initially supported, then abandoned, then watched succeed without him." Musk quoted OpenAI's 2015 certificate of incorporation with the Delaware secretary of state, asserting that it "memorialized" the founding agreement. "Seeing the remarkable technological advances OpenAI has achieved, Musk now wants that success for himself," OpenAI said in its filing.

Persons: Elon Musk, Giorgia Meloni's, OpenAI, Musk, Sam Altman, Greg Brockman, Brockman, Altman, Ilya Sutskever, OpenAI's ChatGPT Organizations: Tesla Inc, New York Times, San, Microsoft Locations: Rome, Italy, San Francisco County, Delaware

☆ Salesforce's behind-the-scenes co-founder is tackling Slack as software company turns 25
▼ + stars: | 2024-03-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +16 min

"The V2MOM had nothing about generative AI," Parker Harris, who co-founded the company with Benioff, told CNBC in an interview. Harris, a Salesforce board member and now the technology chief of Slack, which Salesforce bought in 2021, said he'd rather avoid the limelight. Without the Data Cloud, Harris told CNBC, "I think we would have been in a much worse place." He told Benioff he'd redo the plan, the person said. They'll be talking more frequently, as Harris said they're about to kick off weekly meetings on Slack and Salesforce integrations.

Persons: Parker Harris, Marlena Sloss, Marc Benioff, ChatGPT, Benioff, Salesforce, Harris, Slack, he'd, Sam Altman, Noah Berger, Robin, Batman, Frank Dominguez, Dave Moellenhoff, Bobby Yazdani, Larry Ellison, Yazdani, Dominguez, Brett Queener, who's, Queener, Salesforce.com, He's, Ruth Asawa, Josef Albers, Miles Davis, Donald Trump, Jason Alden, Marc, Kara Swisher, David Paul Morris, Adam Selipsky, it's, Stewart Butterfield, Lidiane Jones, Cal Henderson, Benioff's, Parker, Noah Weiss, Denise Dresser, Weiss, Parker Harris emoji, They'll, Salesforce integrations, Stefan Slowinski Organizations: Salesforce, Bloomberg, Getty, CNBC, Google, Microsoft, Middlebury College, Apple, San, San Francisco Bay Area, Metropolis Software, Software, Saba Software, Oracle, San Francisco's Telegraph, YouTube, Facebook, Economic, Salesforce.com Inc, Web, VMware, Employees Locations: San Francisco, Silicon Valley, English, Vermont, North Carolina, San Francisco Bay, Moellenhoff, Kincaid's, Burlingame, San Francisco's, Salesforce, France, Italy, Nantucket, San, Pacific, Davos, Switzerland, Cliff, New York, Las Vegas, Hawaii

By contrast, Musk appeared to discourage OpenAI co-founders from taking a too-lean approach to fundraising, according to emails the company reproduced from December 2018. The startup also said in its blog post that Musk sought to become OpenAI's CEO in 2017 as it was changing its structure. In emails from January 2018 reproduced by OpenAI, Musk agrees with an unnamed sender who encouraged the startup's co-founders to rely on Tesla as their "cash cow." CNBC has not independently verified the authenticity of the emails included in OpenAI's response on Tuesday, some of which contained partial redactions. Attorneys for Elon Musk were not available to comment on Tuesday night after OpenAI published its response.

Persons: Elon Musk, Musk, OpenAI, Sam Altman, Greg Brockman, —, Google's, Sutskever, Brockman, Altman, Tesla, xAI, Elon, OpenAI isn't, — CNBC's Jordan Novet Organizations: SpaceX, Microsoft, The New York Times, X Corp, CNBC, Elon Locations: OpenAI

☆ Microsoft introduces Copilot AI chatbot for finance workers in Excel and Outlook
▼ + stars: | 2024-02-29 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Microsoft on Thursday announced that it will release a Copilot chatbot that can perform key tasks for people working in finance. The software company will first offer the tool in public preview. The Copilot for finance will initially run a variance analysis, reconcile data in Excel and speed up the collections process in Outlook. Additional features will come to the finance Copilot later this year, Lamanna said. The Japanese advertising agency Dentsu will use the Copilot for finance tasks, Lamanna said.

Persons: Charles Lamanna, Lamanna, it's, Cory Hrncirik, Hrncirik Organizations: Microsoft, CNBC, Wednesday, SAP, Microsoft Dynamics Locations: San Francisco

☆ 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

☆ Salesforce shares slip after the company calls for single-digit full-year revenue growth
▼ + stars: | 2024-02-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Salesforce shares slid as much as 6% in extended trading on Wednesday after the business software maker issued a light revenue forecast for the new fiscal year. Here's how the company did, compared with estimates from LSEG:Earnings per share: $2.29, adjusted, vs. $2.26 expected$2.29, adjusted, vs. $2.26 expected Revenue: $9.29 billion, vs. $9.22 billion expectedSalesforce's revenue grew 10.8% year over year in the quarter, which ended on Jan. 31, according to a statement. Salesforce called for adjusted fiscal first-quarter earnings of $2.37 to $2.39 per share, with $9.12 billion to $9.17 billion in revenue. Analysts polled by LSEG had been expecting $2.20 in adjusted earnings per share on $9.15 billion in revenue. For the new 2025 fiscal year, Salesforce said it sees adjusted earnings of $9.68 to $9.76 per share and $37.7 billion to $38.0 billion in revenue.

Persons: Marc Benioff, Salesforce, LSEG Organizations: Salesforce, Economic, Amazon Web Services Locations: Davos, Switzerland

☆ 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

☆ AI startup Glean lures Citigroup as investor at $2.2 billion valuation after revenue quadruples
▼ + stars: | 2024-02-27 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Arvind Jain, co-founder and CEO of Glean, makes a selfie with employees of the startup, which is based in Palo Alto, Calif. Artificial intelligence startup Glean attracted tech companies Databricks and Workday into its latest investment round. Glean, whose software sifts through corporate repositories to provide quick answers to workers' questions, said Tuesday that it's raised $200 million at a $2.2 billion valuation. Glean's annualized revenue at the end of January was $39 million, up from $10 million a year earlier. While Glean initially targeted the tech industry, it's now looking to expand in financial services, retail, manufacturing and other sectors, Jain said.

Persons: Arvind Jain, it's, Kleiner Perkins, Arvind Purushotham, OpenAI, Jain, Glean, Purushotham, Citi hasn't, Cathy Gao Organizations: Wall, Banking, Citigroup, Lightspeed, Sequoia, Citi Ventures, CNBC, Microsoft, Google, Sony Electronics, Citigroup's, Citi, Nvidia, Sapphire Locations: Palo Alto, Calif, LLMs, OpenAI, Glean

☆ Zoom shares jump as quarterly results beat on top and bottom lines
▼ + stars: | 2024-02-26 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Zoom shares rose as much as 13% in extended trading on Monday after the video chat software vendor announced fiscal fourth-quarter results that topped analysts' expectations. Analysts surveyed by LSEG were looking for $1.13 in adjusted earnings per share and $1.13 billion in revenue. For the 2025 fiscal year, Zoom sees $4.85 to $4.88 in adjusted earnings per share, with $4.60 billion in revenue, implying 1.7% revenue growth. The LSEG consensus was adjusted earnings of $4.71 per share and revenue of $4.65 billion. Before the jump, Zoom shares were down 12% so far this year, while the S&P 500 stock index had gained 6% over the same period.

Persons: Eric Yuan, Zoom, Boris Schlossberg Organizations: Zoom Video Communications, Nasdaq, LSEG Locations: New York

☆ Google says Microsoft offered to sell Bing to Apple in 2018, but search-quality issues got in the way
▼ + stars: | 2024-02-24 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Microsoft offered to sell its Bing search engine to Apple in 2018, Google said in a court filing earlier this month. In the fourth quarter, Microsoft generated $3.2 billion from search and news advertising, while Google search and other revenue totaled $48 billion. Google said in its filing that when Microsoft reached out to Apple in 2018, emphasizing gains in Bing's quality, Microsoft offered to either sell Bing to Apple or establish a Bing-related joint venture with the company. Google said Apple CEO Tim Cook sent an email to Apple executives about the assessment of Bing, but his remarks are redacted in the filing. Cue testified that "if Apple did not receive the massive payments it sought from Google, Apple would have developed its own search engine," the Justice Department asserted in its filing.

Persons: Tim Cook, Eddy, Apple's, Bing, Apple, Satya Nadella, Rob Sanderson Organizations: Apple, Allen, Co . Media, Technology Conference, Microsoft, Google, U.S . Justice Department, Bing, Safari, Justice Department, Windows, MSN, Department, Bloomberg Locations: Sun Valley , Idaho

☆ OpenAI CEO Sam Altman stands to net millions as Reddit goes public
▼ + stars: | 2024-02-22 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

OpenAI CEO Sam Altman will be in a position to make millions after Reddit goes public, thanks to a series of bets on the online discussion board company that go back to 2014. Altman will hold 9.2% of voting power after Reddit's initial public offering, according to information in the company's prospectus. In 2014 Altman led Reddit's $50 million Series B funding round, after using the service every day for nine years, he wrote in a blog post. In the first half of 2021, Reddit was raising a Series E round, and Altman invested $50 million. He went on to say that investors in the Series B round would give 10% of shares to Reddit users.

Persons: Sam Altman, Reddit, Altman, OpenAI, Reddit's, It's, Steve Huffman, that's, FirstMark's Organizations: Microsoft, New York Stock Exchange, Nasdaq, Silicon

☆ Palo Alto Networks shares drop most since 2012 IPO
▼ + stars: | 2024-02-21 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Nikesh Arora, CEO of Palo Alto Networks, speaks on CNBC's "Squawk Box" at the WEF Annual Meeting in Davos, Switzerland, on Jan. 16, 2024. Palo Alto Networks shares dropped 28% on Wednesday, the worst trading session since the cybersecurity hardware and software maker's 2012 initial public offering. The company lowered its full-year billings outlook to a range of $10.1 billion to $10.2 billion, from $10.7 billion to $10.8 billion. The revenue guidance moved to a range of $7.95 billion to $8 billion, from $8.15 billion to $8.2 billion. WATCH: Chart of the Day: Palo Alto Networks

Persons: Nikesh Arora, Palo, Wells, Andrew Nowinski, Stefan Schwarz, Arora, — CNBC's Rohan Goswami Organizations: Palo Alto Networks, MGM Resorts, Defense, Systems, Rosenblatt Securities, Palo Alto Locations: Davos, Switzerland, 23andMe, U.S, Palo, billings

☆ Amazon to replace Walgreens in Dow Industrial Average next week
▼ + stars: | 2024-02-20 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Amazon will replace Walgreens Boots Alliance in the Dow Jones Industrial Average, according to a Tuesday announcement from S&P Dow Jones Indices, which manages the price-weighted measurement of 30 stocks. Amazon shares moved up 1% in extended trading, and Walgreens stock moved 3% lower. "Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas in the DJIA," S&P Dow Jones Indices said in a statement. Amazon's arrival in the Dow Jones comes three years after business software maker Salesforce joined, along with Amgen and Honeywell International. In the most recent quarter Walgreens narrowed its losses to $278 million from $3.8 billion in the year-ago quarter, excluding non-controlling interests.

Persons: Dow, it's, Andy Jassy, Jeff Bezos, Dow Jones, Salesforce, Amazon's Organizations: Walgreens, Alliance, Dow Jones, Dow Jones Indices, Walmart, Amazon, Microsoft, Honeywell International, Dow, GE

☆ Toast will lay off 10% of its workforce, about 550 employees, as growth slows
▼ + stars: | 2024-02-15 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

A screen displays the company logo for Toast Inc. during the company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2021. Toast , maker of restaurant management software, said on Thursday it will let go of 550 employees, about 10% of its workforce. Its net loss of $36 million narrowed from $99 million in the year-ago quarter. Gross payment volume, at $33.70 billion, was up 32%, higher than the $33.53 billion consensus among analysts surveyed by StreetAccount. Under Comparato's leadership last summer, Toast started charging a fee of 99 cents for each online order that totaled more than $10.

Persons: Aman Narang, Toast's, Chris Comparato, Toast, Narang, Jim Cramer Organizations: Toast Inc, New York Stock Exchange, LSEG, Bank of America, StreetAccount Locations: New York City, U.S, Shift4

☆ Microsoft will bring four Xbox games to other companies' consoles
▼ + stars: | 2024-02-15 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Phil Spencer, CEO of gaming at Microsoft, speaks during the company's Xbox event ahead of the E3 Electronic Entertainment Expo in Los Angeles on June 10, 2018. Microsoft said on Thursday that it will release four of its video games on competing consoles. Microsoft completed the acquisition of prominent video game publisher Activision Blizzard for over $75 billion in October. Many Xbox fans expressed frustration on social media, speculating that Microsoft will give up trying to keep exclusive games on its console in the future. Earlier this week, The Verge reported that games such as Hi-Fi Rush, Pentiment and Sea of Thieves would be coming to non-Microsoft consoles.

Persons: Phil Spencer, Spencer, Indiana Jones, We've Organizations: Microsoft, Activision Blizzard, Sony PlayStation, Nintendo, Indiana, Xbox, PlayStation, Bethesda Softworks, ZeniMax Media Locations: Los Angeles, Bethesda, Pentiment

☆ Here's how ed-tech company 2U spiraled from $5 billion to 'going concern'
▼ + stars: | 2024-02-15 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Chip Paucek, co-founder and former CEO of 2U, appears at the company's headquarters in Lanham, Maryland on Nov. 17, 2021. When 2U went public a decade ago, the company was out to prove it could make a splash in the notoriously difficult $550 billion U.S. higher education market. The stock price ballooned from $13 at 2U's 2014 IPO to a high of $98.58 four years later as demand increased for the company's online education offerings. 2U's stock price has been trading below $1 for much of 2024 following a problematic forecast in November and indications that some universities were terminating their contracts. In a statement to CNBC, a 2U spokesperson said the company won't "speculate on potential outcomes."

Persons: Chip Paucek, Paul Lalljie, Needham, Cash Organizations: Revenue, CNBC Locations: Lanham , Maryland

☆ Cisco says it's cutting 5% of global workforce, amounting to over 4,000 jobs
▼ + stars: | 2024-02-14 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Cisco announced plans to cut 5% of its workforce on Wednesday, a decision that will result in the elimination of about 4,250 jobs. Net income declined to $2.63 billion, or 65 cents per share, from $2.77 billion, or 67 cents per share, in the year-ago quarter. With respect to guidance, Cisco called for 84 to 86 cents per share on $12.1 billion to $12.3 billion. For the full year, Cisco sees $3.68 to $3.74 in adjusted earnings per share and $51.5 billion to $52.5 billion in revenue. Cisco said it was increasing its dividend by a penny to 40 cents per share.

Persons: Chuck Robbins, LSEG, Robbins, it's, — CNBC's Ari Levy Organizations: Cisco, Microsoft, SAP, eBay, StreetAccount

☆ Microsoft's AI growth is helping its cloud business weaken Amazon's lead
▼ + stars: | 2024-02-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella appears at the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024. While Microsoft doesn't disclose revenue figures for its Azure cloud infrastructure, analyst figures suggest that five years ago it was half as big as AWS. In total, revenue at Azure increased 30% in the quarter, compared with 13% year-over-year growth at AWS. Microsoft has been adding graphics processing units (GPUs) to its data centers so that clients can run AI models in Azure. "We now have 53,000 Azure AI customers," CEO Satya Nadella told analysts on the company's earnings call.

Persons: Satya Nadella, Amy Hood, Microsoft's, OpenAI's ChatGPT, Jamin Ball, Andy Jassy Organizations: Economic, Amazon, Services, Microsoft, OpenAI, GPT, AWS Locations: Davos, Switzerland, Anthropic

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