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☆ KKR built a new client portal on AWS that helped the PE giant cut costs by 50%. An exec breaks down 3 things he wishes he knew ahead of time.
▼ + stars: | 2023-06-02 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

KKR built a new client portal to replace a legacy one built using vendor tech. KKR had a problem with its client portal. When clients faced issues with the portal, KKR had no visibility into what was causing the problem and could only open a ticket with the vendor, he said. In 2020, KKR embarked on a total rebuild of its client portal, which eventually launched in the summer of 2021. The new portal was built on AWS, where KKR has already moved much of its technology and infrastructure.

Persons: Leo Bogdanov, KKR's, Bogdanov, Serverless, it's, Axel Springer Organizations: KKR, Amazon Web Services, AWS Locations: Axel

NEW DELHI/BENGALURU, June 2 (Reuters) - The India and South Asia head of Amazon.com Inc's (AMZN.O) cloud division, Puneet Chandok, has resigned with effect from August 31, the company said on Friday. Chandok had taken the helm of Amazon Web Services in June 2019. Vaishali Kasture, currently head of enterprise for mid-market and global businesses at AWS India and South Asia, would take on the role of interim leader of commercial business for the unit, Amazon India said. The news came over two weeks after Amazon's cloud computing unit revealed plans to invest 1.06 trillion rupees ($12.87 billion) in India by 2030, doubling down on its past investments to cater to the growing demand for such services in Asia's No. The interim provides an opportunity for other cloud companies such as Azure and Google Cloud Platform, along with homegrown players, to make aggressive bids for accounts, said Akshara Bassi, an analyst at Counterpoint Research.

Persons: Inc's, Puneet Chandok, Chandok, Vaishali Kasture, Akshara Bassi, Munsif Vengattil, Aditya Kalra, Varun, Savio D'Souza, Dhanya Ann Thoppil, Sohini Organizations: NEW, Amazon Web Services, India, Amazon, Counterpoint Research, Varun Vyas, Thomson Locations: NEW DELHI, BENGALURU, India, South Asia, Amazon India, Asia's, New Delhi, Bengaluru

Goldman Sachs released its list of high conviction stocks — with a new twist. What makes this list unique from the typical top picks list is that members of Goldman's Investment Review Committee were the ones choosing the names, adding a second layer of analysis. Take a look at some of the names that made the list, and where Goldman sees them going forward. Goldman expects shares to have 42% upside over the next 12 months. The tech giant's scale, platform breadth, category diversification and end-market exposure will further fuel its upside opportunity in the years ahead, according to Sheridan.

Persons: Goldman Sachs, Steven Kron, Goldman, Kate McShane, Chris Shibutani, Eric Sheridan, Brett Feldman, Max —, — CNBC's Michael Bloom Organizations: Goldman's Investment, Pharmaceutical, Merck, Goldman, Amazon, Services, Warner Bros, HBO Max Locations: Sheridan, WarnerMedia

☆ Amazon's North America fulfillment head is leaving
▼ + stars: | 2023-06-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

A worker sorts out parcels in the outbound dock at Amazon fulfillment center in Eastvale, California on Tuesday, Aug. 31, 2021. One of Amazon 's top operations executives is leaving the e-retailer, the company confirmed. Melissa Nick, a vice president of North America customer fulfillment, will depart the company June 16, Amazon said. Nick reported to Yonatan Gal, a vice president in charge of overseeing Amazon's fulfillment supply chain, equipment maintenance and repairs, as well as fulfillment execution, in North America, according to internal company documents viewed by CNBC. Chris Vonderhaar, a vice president in charge of Amazon Web Services data centers, is leaving the company, GeekWire reported on Monday.

Persons: Melissa Nick, Amazon, Nick, Barbara Agrait, Melissa, Yonatan, Stefano Perego, John Felton, Amazon's, Andy Jassy's, Andy Jassy, Chris Vonderhaar, GeekWire, Jay Carney, Dave Clark Organizations: North, Amazon, CNBC, Amazon Web, Airbnb, Amazon Logistics Locations: Eastvale , California, North America, Europe

Google and the generative AI startup Runway have a huge new cloud computing contract. Google and Runway have a major new contract that provides the generative AI startup will millions of dollars in cloud services and related credits. Recently, Runway raised $100 million at a $1.5 billion valuation from a top cloud provider, Insider reported. Cloud giants like Google Cloud, Amazon Web Services, and Microsoft have also run startup programs for years that provide free cloud credits. Previously, Google Cloud salespeople even expressed concern they wouldn't be able to match AWS's offer of free cloud credits to startups.

Persons: there's, Airbnb, Pinterest Organizations: Google, Runway, Lux Capital, Web Services, Microsoft, AWS Locations: OpenAI

☆ Stick with this mega-cap tech stock that still has room for outsized growth
▼ + stars: | 2023-05-31 | by ( Paulina Likos | ) 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. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. 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, Big, Dow, Bernstein, Mary Dillon, Foot, Dillion, Jim Cramer's, Jim Organizations: CNBC, Amazon New, Big, Nasdaq, Dow, Devices, Nvidia, Meta, Wednesday, Club, Services, New Locations: AMZN, FL

☆ These 4 stocks could double in price — including one tech giant, says financial research firm
▼ + stars: | 2023-05-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Some corners of the market may have been overbought this year, but there are still long-term opportunities for investors, according to financial research firm Redburn. Redburn analysts have chosen 12 companies where changes in the competitive or financial environment or management action could realise outsize value for shareholders," Redburn wrote in a May 23 report. Vestas Redburn said it believes Danish wind turbine manufacturer Vestas is set for a "return to double-digit margins." "While there are inflationary pressures in some areas, supply-chain cost and performance are clearly improving and raw material costs are well below recent peaks," the firm wrote. Sabre Redburn sees a "clear path" for shares of Sabre , a travel tech company, to "more than double."

Persons: Redburn, Vestas Redburn, Vestas, Bill Anderson, –, Bayer, Sabre Redburn, — CNBC's Michael Bloom Organizations: Amazon Web, Bayer, Sabre Locations: United States, Europe, China

☆ We identified the 109 most important people at Google Cloud as it doubles down on AI to beat Microsoft and Amazon. Explore our exclusive org chart.
▼ + stars: | 2023-05-25 | by ( Hugh Langley | Rosalie Chan | ) www.businessinsider.com time to read: +2 min

Internal Google data obtained by Insider shows the 109 most powerful people within Google Cloud. We built an interactive org chart of the top execs and staff helping Kurian lead the division. When Insider last mapped out the Google Cloud org chart at the start of 2022, it had around 40,000 employees. The Cloud unit has seen some notable departures and reshuffles in recent months. It's been almost a year since Javier Soltero, the head of Google Workspace, departed and was replaced by Aparna Pappu.

☆ Microsoft is bringing an A.I. chatbot to data analysis
▼ + stars: | 2023-05-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Scott Guthrie, executive vice president of Microsoft's cloud and artificial intelligence group, speaks at the Microsoft CIO Summit in Redmond, Washington, on Feb. 1, 2023. Microsoft 's hefty investment in artificial intelligence chatbots is finding its way into data analysis. For example, the data can be tapped in Synapse Data Science for collaborating on AI models and Power BI business intelligence software for building charts and dashboards. A single Copilot will be available for the tools in the Microsoft Fabric portfolio, which includes Data Factory, Synapse Data Engineering, Synapse Data Warehousing, Synapse Real-Time Analytics and a new monitoring tool called Data Activator, in addition to Power BI and Synapse Data Science, a Microsoft spokesperson said. He said that Copilot will be able to write formulas using Microsoft's Data Analysis Expressions language in Power BI.

☆ Evercore's tech analyst Mahaney has a new top stock pick
▼ + stars: | 2023-05-22 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

3 spot on Evercore's technology and internet top picks, trailing only Meta Platforms and Uber in the first and second position, respectively. Evercore's price target of $150 implies about 29% upside for Amazon compared to Friday's close. Mahaney struck an optimistic tone on Amazon largely thanks to the potential growth of Amazon Web Services (AWS). The tech giant's cloud unit's revenue grew by roughly 16% in the first quarter, a slightly faster pace than anticipated by analysts. Over the long term, Mahaney added, Amazon's ability to grow artificial intelligence projects and integration could help cloud services going into 2024.

☆ 10 Things in Tech: Apple's upcoming 'Reality' headset, BookTok drives book sales, and more
▼ + stars: | 2023-05-19 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

AI startup cloud deals by Microsoft, Google, and Amazon are ringing "accounting alarm bells" across Silicon Valley over revenue "round-tripping." As Big Tech firms invest in AI startups in exchange for commitments to use their cloud services, some investors question whether those arrangements are artificially inflating cloud revenue growth. A former Apple marketing executive predicts the company's upcoming "Reality" headset risks being "one of the greatest tech flops of all time." How the BookTok phenomenon helped send book sales to an all-time high and reignite a love for reading. Read on to find out more about what you can use the AI app for.

☆ AI startup cloud deals by Microsoft, Google and Amazon ring 'accounting alarm bells' across Silicon Valley over revenue 'round-tripping'
▼ + stars: | 2023-05-19 | by ( Eugene Kim | Stephanie Palazzolo | ) www.businessinsider.com time to read: +10 min

Some investors question whether these arrangements are artificially juicing cloud revenue growth. When Microsoft announced a multibillion-dollar investment in OpenAI earlier this year, the deal made Azure the ChatGPT-maker's "exclusive cloud provider." There's another deal in the works with similar attributes involving Runway AI and a major cloud company. But they are drawing more scrutiny lately because they could artificially inflate cloud revenue, a key driver of growth for Microsoft, Google, and Amazon, according to Ted Mortonson, managing director of financial-services firm Baird. Is OpenAI a regular cloud customer that is getting no investment money from Microsoft?

☆ Amazon's cloud unit to invest $13 billion in India by 2030
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

The latest investment will be used to build its cloud infrastructure in India and it will support over 100,000 full-time jobs annually, AWS said. AWS' total planned investment in India adds up to about $16.4 billion by 2030, the company said in a statement. The cloud platform offers more than 200 services, including storage, robotics and artificial intelligence. The country is currently in the process of drafting a cloud and data center policy to oversee the sector. A host of global companies, including Microsoft Corp (MSFT.O) and Alphabet Inc's (GOOGL.O) Google are ramping up cloud investments in India, betting on the rising digital consumption in one of the fastest-growing markets.

☆ Amazon's cloud unit to invest $12.7 billion in India by 2030
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: 1 min

May 18 (Reuters) - Amazon Web Services (AWS), the cloud computing division of Amazon.com Inc (AMZN.O), said on Thursday it plans to invest $12.7 billion in India by 2030 to build its cloud infrastructure. Reporting by Mrinmay Dey in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Carbon Accounting Changes Could Lift Corporate Greenhouse-Gas Emissions
▼ + stars: | 2023-05-18 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

Changes to emissions accounting rules are being considered that could significantly increase carbon footprints for companies claiming to use 100% renewable power in their efforts to decarbonize. How companies tally greenhouse-gas emissions from their electricity purchases—so-called Scope 2 emissions—was the most popular issue in a recent consultation on updating widely used GHG Protocol carbon accounting rules. A recent review by carbon management firm FlexiDAO of 22 multinationals that bought renewable electricity across 27 countries found that they could be underestimating their electricity emissions by close to 50% under the current system. The GHG Protocol secretariat is reviewing the more than 1,400 survey responses, around 400 of which mentioned Scope 2. Other areas of focus were emissions in the value chain, or so-called Scope 3 emissions, market-based accounting approaches, and corporate accounting and reporting standards.

☆ Factbox: Amazon to Walmart, investors in India boost Modi ahead of vote
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

AMAZONAmazon Web Services said it planned to invest $13 billion in India by 2030 to build its cloud infrastructure and create thousands of jobs. APPLE (AAPL.O)The U.S. tech giant launched its first company-owned store in Mumbai last month and then another in New Delhi. CISCO SYSTEMS (CSCO.O)The U.S. networking equipment maker will begin manufacturing from India as it looks to diversify its global supply chain. It has set a target of $1 billion in production and exports from India over the next few years. WALMART (WMT.N)The retail giant's CEO met Modi this month and reiterated that the company planned exports from India worth $10 billion a year by 2027.

☆ 10 Things in Tech: Amazon Web Services salaries, Elon Musk returns to Tesla, and a ‘secret’ ChatGPT prompt library
▼ + stars: | 2023-05-16 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

I'm Diamond Naga Siu, and I don't dream of labor (I do occasionally have dreams about writing the newsletter). And hiring managers told my colleague Aki Ito that it's currently incredibly difficult to find and hire enough qualified people. The country that wins the competition over the batteries of the future will not only control the electric vehicle market. Lopez gives us a front-seat look at the landscape of the critical EV battery market. A leaked email revealed that Musk now wants to approve all new hires — including contractors — at Tesla.

☆ Weather intelligence company aims to revolutionize forecasting with a constellation of radar satellites
▼ + stars: | 2023-05-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Boston-based Tomorrow.io began as a software company that offered hyper-precise, street-level weather forecasting. The company recently launched Tomorrow-R1, what it claims is the world's first commercially built weather-radar satellite, via SpaceX's Falcon 9 rocket. Tomorrow.io used proprietary software not just to predict but also to help companies plan for severe weather. The new radar satellite, however, will offer a much broader scope of data. Elkabetz said the company intends to launch more than two dozen of its own satellites over the next two years.

☆ Amazon Web Services salaries: See how much engineers, analysts and hundreds of others at the cloud computing giant were paid before layoffs
▼ + stars: | 2023-05-15 | by ( Thomas Maxwell | Ellen Thomas | ) www.businessinsider.com time to read: +3 min

See how much Amazon paid employees across the AWS business in 2022. Amazon Web Services' hiring has hit a low point. Insider combed data from that office, which authorizes hiring non-US employees and then publicly releases the data. Insider sorted through the hundreds of disclosed salaries that represent engineers, product managers, and more, to find out what the cloud giant was paying employees last year. Here's a breakdown of what AWS paid its developers, product managers, analysts, and other key roles through the end of 2022:

☆ OpenAI: 2023 CNBC Disruptor 50
▼ + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

Since launching ChatGPT in November, OpenAI has quickly become a household name. Microsoft came into the picture in 2019 with a $1 billion investment. The tech giant followed up with a multi-billion-dollar investment in 2023, with some reports putting the figure as high as $10 billion. Today, OpenAI is reportedly valued at $29 billion, though the company has not shared total funding or valuation data. Microsoft has been integrating the technology into Bing, its search engine, as well as its Microsoft 365 bundle and Dynamics 365 sales and marketing tools.

☆ Amazon is the 500-pound gorilla in a room full of puppies when it comes to corporate buying of wind and solar power
▼ + stars: | 2023-05-06 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +10 min

In 2022, Amazon bought 10.9 gigawatts of clean power, making it the largest corporate buyer of renewable power in the world, according to data from the market research company BloombergNEF. It's also more than four times the amount of clean energy that the second-largest purchaser of clean power, Facebook parent company Meta , bought in 2022. Since 2019, Amazon has scaled from having one gigawatt of renewable energy to more than 20 gigawatts of publicly announced renewable power. Amazon is focused on building new wind and solar projects, Daitch told CNBC. But that's really more of a bridging solution and not our core strategy, which is around enabling new wind and solar projects," Daitch said.

☆ Check out the pitch deck that Ukraine startup Fuelfinance, which aims to help finance teams replace Excel with better tools, used to raise $1 million from a war zone
▼ + stars: | 2023-05-04 | by ( Melia Russell | ) www.businessinsider.com time to read: +2 min

In January, it raised $1 million in seed funding from angels at Google, Meta, and Salesforce. That's the situation Alyona Mysko found herself in as the chief executive and cofounder of Fuelfinance, a tiny accounting startup based in Ukraine. In January, Fuelfinance raised $1 million in a seed round of funding from angel investors at companies including Google, Meta, Salesforce, and Uber. Fuelfinance is taking on giants like Microsoft Excel and Pilot with its cloud-based approach to financial planning. Here's the pitch deck that Fuelfinance used to convince employees of Google, Meta, and Salesforce to invest $1 million.

☆ As Generative AI Gets Hotter, KKR Bets on Keeping Data Centers Cool
▼ + stars: | 2023-05-03 | by ( Angus Loten | ) www.wsj.com time to read: 1 min

CoolIT Systems will use the added capital to scale up to meet growing demand for data-center cooling systems. Photo: CoolIT SystemsKKR is buying CoolIT Systems, a decades-old company that builds cooling systems for data centers, the investment firm said, making a multimillion-dollar bet on the booming market for generative artificial intelligence and other software tools that require massive amounts of computing power. The deal, valued at $270 million, will give CoolIT Systems added capital and other resources to scale up to meet growing demand for cooling systems from data-center operators, including giant cloud-computing providers such as Amazon.com ’s Amazon Web Services and Microsoft ’s Azure cloud unit.

☆ Interview: Amazon Web Services cofounder Charlie Bell dishes on why he moved to Microsoft, how he met Satya Nadella, and if he'll ever work on Azure
▼ + stars: | 2023-05-03 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +9 min

Amazon Web Services cofounder Charlie Bell left in 2021 for a job at Microsoft. Many in the industry, including current and former Microsoft and Amazon executives, wonder whether there's a better job for Bell. In a rare interview with Insider, Bell discussed why he left Amazon, how he met Microsoft CEO Satya Nadella, and whether he'll ever work on Azure. Wind the clock back to January of 2021, Jeff (Bezos) came to us and said, "Hey, I'm going to retire." The more I thought about it, the more I thought, "Well, Microsoft might be the place to do it."

☆ OpenAI has its tentacles in hundreds of companies. Here's how it's making them more productive.
▼ + stars: | 2023-05-03 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

Developers are linking arms with OpenAI to access the large language models powering their apps. In doing so, OpenAI has its tentacles in hundreds of Silicon Valley startups. OpenAI's artificial intelligence technology is now baked into hundreds of apps, making it one of the key levers that help companies and their developers be more productive. The latest company utilizing the company's large language models is Superhuman, an email app with a cultish following. The feature came together so fast, according to Akshay Kothari, the third cofounder and chief operating officer, because Notion hadn't done the grunt work of training a large language model itself.

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