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☆ Palantir CTO Shyam Sankar talks geopolitical tensions, AI, and government web services
▼ + stars: | 2023-12-01 | by ( ) 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 EmailPalantir CTO Shyam Sankar talks geopolitical tensions, AI, and government web servicesShyam Sankar, Palantir Chief Technology Officer, joins 'Closing Bell Overtime' to talk its role in military conflicts, implementing AI, it's government web services business and more.

Persons: Shyam Sankar Organizations: Technology

☆ Amazon holds an exclusive meeting at its cloud conference to give 'XXL' customers like Salesforce a forum to air grievances
▼ + stars: | 2023-12-01 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +2 min

One in particular is open only to very important cloud customers: a meeting for "XXL" or "extra-extra-large" AWS users. Roughly 50 people attended the meeting, they said, including about a dozen AWS representatives and employees from eight large AWS customers, including Salesforce and Adobe. Not all of the largest AWS customers attended the meeting. Though the meeting is for important customers, AWS CEO Adam Selipsky did not attend, the people said. Do you have information or insight to share about AWS or other large cloud providers?

Persons: Adam Selipsky, Ellen Thomas Organizations: Web Services, AWS, Business, Venetian Convention, Expo, Adobe, FinOps Foundation, Microsoft, Google Locations: Las Vegas, ethomas@insider.com

☆ AWS VP tells employees that the departures of senior engineers are 'making us better,' leaked transcript shows
▼ + stars: | 2023-12-01 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Some Amazon Web Services employees are concerned about a large number of departures among its senior engineers. At last month's internal staff meeting for AWS, VP of infrastructure services Prasad Kalyanaraman answered an employee question about turnover among senior engineers, according to a transcript of the meeting obtained by Business Insider. It is one of the many challenges AWS employees are currently dealing with, alongside slowing growth and a more bureaucratic culture, as BI previously reported . As we've previously told Insider, attrition among AWS employees has declined in recent years and to suggest anything otherwise is inaccurate. Amazon unveiled Amazon Q this week, an AI chatbot for businesses, and previously launched CodeWhisperer, a coding assistant for developers.

Persons: Prasad Kalyanaraman, Kalyanaraman, Rob Munoz, we've, Prasad, Munoz, Peter DeSantis, DeSantis, Charlie Bell, Rachel Thornton, Chris Vonderhaar Organizations: Web Services, Business, Amazon's, AWS

☆ A popular female coding Instagram account that said men 'suffer from biases equally to women' was created by a man, report says
▼ + stars: | 2023-12-01 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

The person behind a female coder's Instagram account is a man, 404 Media reports. The page, called coding_unicorn, has 115,000 followers and claims to be run by a woman called Julia. AdvertisementA popular Instagram account fronted by a woman named Julia Kirsina is run by a man, according to a 404 Media investigation. But in reality, the person running the account is a male software developer called Eduards Sizovs, according to a 404 Media report. Advertisement404 Media dug into Sizovs' IP logs and old YouTube videos, and said it found that he had access to an email account called coding_unicorn.

Persons: Julia, —, Julia Kirsina, Kirsina, coding_unicorn, Sizovs, Ayodeji, Satya Nadella, Gergely Orosz, Anna Boyko, Alina Prokhoda, Kristine Howard, Julia Kirsina —, Scott Hanselman Organizations: Service, Business, Sizovs, Microsoft, Amazon Web Services, Bloomberg

☆ Exclusive: Google pushes for antitrust action against Microsoft in UK cloud market
▼ + stars: | 2023-11-30 | by ( Martin Coulter | ) www.reuters.com time to read: +4 min

In 2022, Amazon Web Services (AWS) and Microsoft's Azure had a combined 70-80% share of Britain's public cloud infrastructure services market, Ofcom said. Such practices directly harmed customers, and were the only significant barrier to competition in Britain’s cloud computing market, the company said. "A lot of our software and cloud services interoperate, and can run on AWS or on Azure as well, so you're not restricted," he said. "If you don't fix this, eventually you will have fewer cloud providers, and then innovation will not really happen, and investments will start shrinking." Asked why Amazon, which boasts a larger share of the cloud market than Microsoft, did not pose a similarly anticompetitive risk, Zavery said AWS consumers were not facing the same restrictions.

Persons: Arnd, Amit Zavery, Microsoft’s, Zavery, ”, Martin Coulter, Jeffrey Dastin, Kenneth Li Organizations: REUTERS, Microsoft, Reuters, European Union, CMA, Markets Authority, Ofcom, Amazon Web Services, Google, Google Cloud, Thomson Locations: Zurich, Switzerland, Britain, London, New York

☆ Sam Altman suddenly looks less powerful. The panic caused by OpenAI's near-death experience is to blame.
▼ + stars: | 2023-11-30 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

VCs threatened to sue OpenAI's board, and some jockeyed to get in on whatever new situation might replace the fizzled startup. And in OpenAI's case, Altman was brought back as CEO and all the employees stayed. AdvertisementUntil this moment, the consensus was that Altman came through this crisis looking even more powerful and crucial to OpenAI's future. 'The company will be totally fine without me'Silicon Valley just realized that the fate of the world's most important AI company rested in the hands of just one person. The startup's near-death experience unsettled the companies and developers that have come to rely on OpenAI's artificial intelligence platform.

Persons: OpenAI, Altman, —, Sam Altman, VCs, OpenAI's, Wesley Chan, Claude, Guillermo Rauch, Rauch, pinged Rauch, –, Bret Taylor, Madeline Renbarger Organizations: Service, Microsoft, FDIC, FPV Ventures, Google, Services Locations: Silicon Valley, It's

☆ Amazon's cloud business is in danger of missing sales goals in one key part of the business, insiders say
▼ + stars: | 2023-11-30 | by ( Eugene Kim | ) www.businessinsider.com time to read: +1 min

AWS's growth rate has slowed and its SMB sales unit will likely miss 2023 targets, sources say. AWS built a lead in cloud computing by better catering to startups and small businesses than rivals. The Amazon Web Services team responsible for selling services to startups and small businesses is struggling to meet its 2023 sales goals, two people with direct knowledge of the situation tell Business Insider. One believes the SMB team will surely miss its targets and said managers are facing mounting pressure to improve their numbers. Both people requested anonymity because they are not authorized to speak to the press.

Organizations: Web Services, AWS, Business

☆ Employee burnout at AWS is reminiscent of another top firm's push to get bigger
▼ + stars: | 2023-11-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

AdvertisementIn today's big story, we're looking at the growing tension at AWS with rising employee burnout. Just like OpenAI's ChatGPT or Google's Bard, Amazon Q is a generative AI chatbot users can talk to like a human. Amazon Web Services, which developed Amazon Q, announced the new product under the fanfare of its annual event in Las Vegas, AWS re:Invent. Business Insider's Eugene Kim, our resident Amazon expert, has a report on the growing tension and burnout among AWS employees. Jon Krause for InsiderThe burnout at AWS reminds me of another company at the top of its field facing turmoil: Goldman Sachs.

Persons: —, you've, Taylor, Pena Popo, Noah Berger, Bard, Insider's Eugene Kim, ChatGPT, Jon Krause, Goldman Sachs, Goldman, David Solomon, haven't, BI's Dakin Campbell, Bethany McLean, Goldman aren't, Goldman's, Sylvain Gaboury, Patrick McMullan, Slaven, The New York Times Elon Musk, Tesla, They've, Joe Santagato, Elon Musk, Drazen, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Spotify, Getty, Web Services, Microsoft, Goldman, Slaven, The New York Times, Amazon, Business, American Express, Federal, Paris, Paralympic, Kroger, Dell Locations: Las Vegas, Austin , Texas, New York City, San Diego, London, New York

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

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

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

As technology titans jockey to back hot new startups, they are extracting explicit or implicit promises of revenue in return. loadingMicrosoft’s injection of $10 billion into OpenAI in January helped kick off the craze. As part of their deal, the ChatGPT operator agreed to exclusively use its new investor’s cloud computing services. Much of the invested capital should be returned relatively quickly as AI firms buy back-end services. Nvidia (NVDA.O) has at least 80% and as much as 95% of the AI market, according to estimates by analysts.

Persons: Sam Altman, Satya Nadella, OpenAI, Optimists, cynics, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav, Streisand Neto Organizations: Reuters, Microsoft, Financial Times, Apple, Nasdaq, Big Tech, OpenAI, Wall Street, Google, Reuters Graphics Reuters, Cisco Systems, Lucent Technologies, Nortel Technologies, Company, Global, Telecom, Nortel, Network, Nvidia, Thomson Locations: OpenAI, Silicon Valley

During the Amazon Web Services cloud conference on Tuesday, Amazon unveiled upgraded AI chips, a new chatbot and an expanded partnership with Nvidia. Expanded Nvidia partnership Amazon on Tuesday outlined the details of its deepening partnership with semiconductor firm Nvidia – the global leader in the development of AI chips. Amazon's announcements involved not only Nvidia' bread-and-butter AI chips known as graphics processing units, or GPUs, but also its fast-growing – yet still underappreciated – software-and-service offerings. In general, Amazon has touted its own AI chips as being a lower-cost option for customers. Nvidia's AI hardware is known to carry a hefty price tag .

Persons: Grace Hopper Superchip, –, Jensen Huang, Jim Cramer's, Jim Cramer, Jim, Arjun Kharpal Organizations: Nvidia, Services, Amazon, Microsoft, Oracle, JMP Securities, CNBC, IAA, Qualcomm, Samsung Locations: Munich

☆ Amazon wants businesses to use its palm-scanning tech to let employees into the office
▼ + stars: | 2023-11-28 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is expanding its palm-scanning technology beyond grocery stores and is rolling out a version that's designed for the business world. Companies already signed up for the biometric technology include IHG Hotels and Resorts, turnstile manufacturer Boon Edam, and Kone, an escalator and elevator provider. Amazon didn't disclose pricing for the service, which is available in preview in the U.S. starting Monday. Advocacy groups have criticized the service over privacy and security concerns, arguing it leads to increased surveillance. Earlier this month, Amazon debuted Astro for Business, a version of its household robot that it's framing as a roving security guard for businesses.

Persons: Edam, Kone, Dilip Kumar, It's Organizations: Companies, Resorts, Amazon, Foods, Sports, Business Locations: U.S

☆ Amazon announces new AI chip as it deepens Nvidia relationship
▼ + stars: | 2023-11-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

It led to a shortage of Nvidia's chips as companies raced to incorporate similar generative AI technologies into their products. Amazon's own Trainium2 chips are built for training AI models, including the sort that AI chatbots like OpenAI's ChatGPT and its competitors run on. More than 50,000 AWS customers are already using Graviton chips, Amazon said. Finally, as part of its deepening relationship with Nvidia, AWS said it will operate more than 16,000 Nvidia GH200 Grace Hopper Superchips, which contain Nvidia GPUs and Nvidia's Arm-based general-purpose processors. AWS didn't announce release dates for virtual-machine instances with Nvidia H200 chips, nor instances relying on its Trainium2 silicon.

Persons: Maia, Grace Hopper Superchips, Deepwater's Gene Munster Organizations: Services, Nvidia, Microsoft, Big, Intel, AMD, AWS Locations: Las Vegas, Graviton

☆ Amazon unveils Q, its AI chatbot for workers
▼ + stars: | 2023-11-28 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

Amazon's cloud division has just unveiled Amazon Q, its AI chatbot for workers. Amazon Q aims to help workers draft emails, write blogs, summarize reports, and troubleshoot bugs. AdvertisementThere's yet another generative AI chatbot on the market — this time from Amazon. On Tuesday, Amazon Web Services, the retail giant's cloud division, unveiled Amazon Q, its generative AI chatbot that can be tailored specifically to a business, according to Amazon's press release. Marketing professionals, project managers, and sales representatives at companies that use AWS can prompt Amazon Q to draft emails, summarize reports, and write blog posts, according to Amazon.

Persons: —, Slack, Q, Adam Selipsky, OpenAI, Bard, Amazon's chatbot Organizations: Service, Amazon, Web Services, Google, Microsoft, Amazon Web Services, New York Times

☆ Jim Cramer rebuts the bear cases against the 'Magnificent Seven' tech stocks
▼ + stars: | 2023-11-28 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Tuesday reaffirmed his belief in owning the "Magnificent Seven," arguing against bear cases for the mega-cap stocks. "I wish I could get these companies to split their shares in favor of you, the home gamer," Cramer said. However, Cramer called Nvidia a "benign monopolist," with its product reigning supreme in the industry. According to Cramer, investors shouldn't be concerned that Microsoft's stock has soared too quickly, praising its artificial intelligence product and saying, "There are no speeding tickets in this racket." "Despite these rebuttals, I think their success in 2023 made each of these stocks into their own worst enemy," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, didn't, Mark Zuckerberg's, shouldn't, Tesla Organizations: Nvidia, Meta, Microsoft, Tesla, Amazon Web Services, Facebook

☆ Amazon announces new data center chip as Microsoft rivalry intensifies
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: 1 min

The logo of Amazon is seen at the company's logistics centre in Boves, France, October 6, 2021 REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsNov 28 (Reuters) - Amazon.com (AMZN.O) on Tuesday introduced its newest data center chip for its cloud computing service as competition with Microsoft (MSFT.O) to dominate the market for artificial intelligence heats up. At a conference in Las Vegas, Amazon Web Services Chief Executive Adam Selipsky announced Graviton4, the cloud firm's fourth custom central processor chip, which it said is 30% faster than its predecessor. The news comes weeks after Microsoft announced its own custom chip called Cobalt designed to compete with Amazon's Graviton series. Reporting by Yuvraj Malik in Bangalore and Stephen Nellis in San FranciscoOur Standards: The Thomson Reuters Trust Principles.

Persons: Pascal, Adam Selipsky, Graviton4, Amazon's, Yuvraj Malik, Stephen Nellis Organizations: Microsoft, Web Services, Thomson Locations: Boves, France, Las Vegas, Bangalore, San Francisco

☆ Microsoft and Amazon Web Services executives are bailing on this tech conference after the organizer was accused of using fake female panelists
▼ + stars: | 2023-11-28 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

A tech conference organizer was accused of listing fake female panelists on his event website. AdvertisementAn online software development conference has come under fire after its organizers were accused of listing fake female panelists on its website. The DevTernity Conference was slated to run from 7 to 8 December, and featured speakers from Microsoft and Amazon Web Services. He also explained the origins of the three fake female profiles. According to Sizovs, he secured the participation of two female panelists, but both eventually withdrew their participation.

Persons: Eduards Sizovs, —, Gergely Orosz, you've, Anna Boyle, Orosz, Sizovs, Kristine Howard, Scott Hanselman, he's Organizations: Service, Microsoft, Amazon Web, Bloomberg, Amazon Web Services, Sizovs, DevTernity Conference, Business Insider

☆ Workday raises annual subscription revenue forecast on steady product demand
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Nov 28 (Reuters) - Workday (WDAY.O) raised its annual subscription revenue forecast and beat estimates for quarterly profit and revenue on Tuesday, benefiting from an easing macro environment and strong demand for its cloud-based software services. Shares of the Pleasanton, California-based company rose 3.2% in extended trading. The company now expects full-year subscription revenue of $6.598 billion, compared with its previous expectation of $6.570 billion to $6.590 billion. The company reported third-quarter total revenue of $1.87 billion, higher than analysts' estimates of $1.85 billion, according to LSEG data. Workday's subscription revenue rose 18.1% to $1.69 billion.

Persons: Carl Eschenbach, Zaheer Kachwala, Maju Samuel Organizations: ADP, Accenture, Thomson Locations: Pleasanton , California, Bengaluru

☆ 'The most taboo topic I've ever seen': Inside Microsoft's war over the war in Gaza
▼ + stars: | 2023-11-28 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +16 min

Viva Engage, Microsoft's slick message board designed to compete with Slack, is often touted as "Facebook for work." In October, according to internal messages viewed by BI, a Microsoft employee shared a post praising child tax credits as a way to reduce poverty. Employees with pro-Palestinian views have also used inflammatory language in their posts on Viva Engage. It has cut off the comments to Viva Engage posts it considered too incendiary. "It's important to recognize the pain and suffering of so many people, including our colleagues, as the events in Israel, Gaza, and the surrounding region continue to unfold," Nadella wrote.

Persons: Slack, —, Sandy Hook, chimed, George Floyd, Satya Nadella, Roe, Wade, Kathleen Hogan, Israel, Nadella, Benjamin Netanyahu, Charlie Bell, Scott Guthrie, Rajesh Jha, Microsoft's, Cherry, Davis Polk, Israel's, Ashley Stewart Organizations: Viva Engage, Facebook, Microsoft, Business, Engage, BI, Employees, Israel, Israel Defense Forces, Harvard, Hamas, Wardwell, Ivy League, New York Times, Apple, Amazon Web Services Locations: Israel, Gaza, Uvalde, Columbia, Silicon Valley, America, Haifa, Herzliya , Tel Aviv, Nazareth, Palestine, Gaza . Harvard, Tel Aviv, Seattle

☆ NetApp lifts annual profit forecast on upbeat cloud service demand
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Nov 28 (Reuters) - NetApp (NTAP.O) raised its annual profit forecast on resilient demand for its cloud-based data solutions as companies push on digital transformation projects, sending its shares up 10% after the bell on Thursday. Rise of artificial intelligence applications has also boosted spending on cloud computing, including storage solutions like the ones provided by NetApp. The company expects full-year adjusted profit per share between $6.05 and $6.25 compared with $5.65 to $5.85 it had previously projected. NetApp forecast net revenue for the third quarter to be between $1.51 billion and $1.67 billion, the mid-point of which was above analysts' estimate of $1.56 billion. It expects adjusted profit between $1.64 and $1.74 per share, above market expectation of $1.53.

Persons: George Kurian, Harshita Mary Varghese, Arun Koyyur Organizations: NetApp, Web Services, Google, Thomson Locations: Bengaluru

☆ Amazon announces Q, an AI chatbot for businesses
▼ + stars: | 2023-11-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Amazon on Tuesday announced a new chatbot called Q for people to use at work. The Copilot for Microsoft 365 and Duet AI for Google Workspace for business workers both cost $30 per person per month. As a result, with Q, people can discuss information that's stored in Microsoft 365, Dropbox, Salesforce and Zendesk, along with AWS' S3 data-storage service. Administrators will be able to determine whether Q can answer people's questions about general topics, said Deepak Singh, an AWS vice president. WATCH: The market now sees Amazon as more of a cloud and generative AI company, says Needham's Laura Martin

Persons: James Bond, Salesforce's Slack, Adam Selipsky, Selipsky, Steven Dickens, Q, Deepak Singh, Needham's Laura Martin Organizations: Amazon Web Services, Microsoft, Google, Star Trek, Futurum, AWS Locations: Las Vegas

☆ Amazon’s shipping splurge delivers payoff
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

A worker sorts products during Cyber Monday operations at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. In 2016, before its in-house logistics initiative took off, global shipping costs tallied about $16 billion, with customers covering about half. Last year, the total expense was about five times higher. Moreover, higher turnover means higher profit, especially from ancillary services such as advertising. And that’s before the generally lucrative holiday season, which should bring Amazon shareholders some more upbeat shipping news.

Persons: Robert Cyran, Julius Baer’s, Warren Buffett, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, UPS, FedEx, Wall Street Journal, Services, Shipping, Amazon, X, Thomson Locations: Robbinsville , New Jersey, U.S, America, China

☆ How AI could power the climate breakthrough the world needs
▼ + stars: | 2023-11-26 | by ( Clare Duffy | Rachel Ramirez | ) edition.cnn.com time to read: +14 min

The tool uses data on the climate, water and soil of a particular location to measure how viable the landscape will be for growing in the coming years. “The way we think about AI is it’s a time and effectiveness multiplier to the solutions for climate change,” Gupta told CNN. But for all of AI’s promise, the infrastructure that supports the technology — data centers filled with rows of powerful, energy-sucking computers — could itself be a strain on the environment. For now, the amount of energy used to power AI is relatively small compared to what’s consumed by transportation or buildings. Data center operators like Google are already thinking about how to reduce the resources needed to power the computing behind their AI models.

Persons: David Rind, ClimateAi, Himanshu Gupta, ” Gupta, ”, Fengqi, “, Kara Lamb, Aditya, Dan Keeler, ” Keeler, Anna Liljedahl, ” Liljedahl, Keeler, Daniel Leal, ClimateAi’s Gupta, Anna Robertson, ” Robertson, Alex de Vries, Alex Kraus, Adam Selipsky, —, Gupta Organizations: David Rind . New York CNN, Farmers, CNN, Cornell, Getty, Technology, Climate Research, Google, Bloomberg, Web Services, —, “ Regulators, ” Tech Locations: David Rind . New York, India, Maharashtra, Columbia, American, Ireland, Oregon, United States

☆ Companies have an 'incredible need' for this in-demand skill, says Google exec—and it pays over $100,000 a year
▼ + stars: | 2023-11-24 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

In fact, the Bureau of Labor Statistics projects that the number of cybersecurity jobs will grow 32% in the next decade — much faster than the average for occupations overall. "Employers are really struggling to find people who are comfortable working in cybersecurity, but there's this incredible need and demand for people with these skills," says Gevelber. It's one of the reasons Gevelber founded Grow with Google, the tech giant's skilling initiative, in 2017. The online program provides lessons and certifications for in-demand skills like cybersecurity and data analytics. Other colleges and organizations, including Amazon Web Services, Columbia University and the University of Pennsylvania, offer comparable cybersecurity certificates.

Persons: Lisa Gevelber, Gevelber Organizations: FBI, of Labor Statistics, Employers, Google, Amazon Web Services, Columbia University, University of Pennsylvania Locations: U.S, cybersecurity

☆ 2 of our stocks stand to gain from the discount-driven start to holiday online shopping
▼ + stars: | 2023-11-22 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Deep discounts are driving a strong start to holiday online spending, according to new data from Adobe Analytics. While measuring online holiday spending, the report's emphasis on bargain-driven sales signals that shoppers at brick-and-mortar locations would feel the same way. So far in November Online sales for apparel were up 22% this month compared to daily average sales in October, according to Adobe data. On Black Friday, the big shopping day after Thanksgiving, online spending alone is seen rising 5.7% to $9.6 billion. People carry shopping bags as they visit a department store during the holiday season in New York City.

Persons: Adobe's, Morgan Stanley, bode, TJX, Goldman Sachs, Andy Jassy, we're, Jassy, Jim Cramer's, Jim Cramer, Jim, Eduardo Munoz Organizations: Adobe Analytics, Club, Adobe, Bank of America, Apparel, TJX, Amazon, Amazon Web Services, CNBC Locations: Maxx, New York City

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