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☆ Microsoft starts selling its Copilot AI tool for email and documents
▼ + stars: | 2023-11-01 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

On Wednesday, the company started selling the Microsoft 365 Copilot artificial intelligence add-on for its Office app subscriptions targeting businesses. Wong said Gartner encourages organizations to experiment with generative AI, which can create synthetic images and text with just a few words of human input. "I think getting to 20% will be reasonable within two to three years for technologies like Copilot, because there's going to be early adopters, and there's going to be fast followers," he said. Microsoft acknowledges on its website that "the responses that generative AI produces aren't guaranteed to be 100% factual." Microsoft says prompts and responses in Copilot aren't used to train language models and adhere to the company's privacy standards.

Persons: Piper Sandler, Brent Bracelin, Hannah Rudoff, Piper Sandler's, Bracelin, Satya Nadella, Nadella, we've, Jason Wong, Wong, Gartner, Piper Sandler's Bracelin, ChatGPT, aren't, Katie Stockton Organizations: Microsoft, Google, CNBC, Copilot, Bayer, KPMG, Mayo Clinic, Suncorp, Visa, Gartner, Companies

☆ This Yahoo spinout uses AI to help companies store and search data instantly. Check out the 12-slide pitch deck Vespa.ai used to raise $31 million.
▼ + stars: | 2023-11-01 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

Vespa.ai, a startup that spun out of Yahoo last month, has raised $31 million in Series A funding from Blossom Capital. The Norway-based startup has created an AI-powered platform that gives companies access to its search engine and vector database. A key problem that many companies face is having the infrastructure to store extensive amounts of data, and accessing it efficiently. The startup's cloud service and search platform can tap into this data in real time, giving companies responses or decisions almost immediately after a query has been put in. With the cash injection, the startup will ramp up its engineering functions, as well as its cloud services.

Persons: Jon Bratseth, We've Organizations: Yahoo, Blossom Capital, Fortune, Spotify Locations: Norway, London, Blossom

☆ 'It's going to surprise you': An old tech brand is pivoting to AI, and this investor loves the stock
▼ + stars: | 2023-11-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Traders should "rethink" one tech stock associated with an old corner of the industry — making printers and scanners, according to one investor. They're expanding in all aspects of net based cloud services for all business enhancements," Blancato said. He added that it's now a tech company trading at valuations "significantly better" than any other tech company. "Rethink the name Xerox, it's going to surprise you what they can do in the next couple of years," he said. In the years before, however, its annual dividend per share was as low as $0.17 in 2012.

Persons: Philip Blancato, CNBC's, Blancato, Steve Bandrowczak, FactSet, Xerox's Organizations: Xerox, Asset Management, Nasdaq

☆ The generative AI hype hasn't translated to cloud sales yet, as customers don't know if they should jump in. Microsoft is the one exception.
▼ + stars: | 2023-10-27 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Microsoft and Google, the next two biggest American cloud providers, also saw cloud revenue growth rates slow this year. Microsoft Azure and other cloud services saw revenue growth of 29%, down from 35% this time last year. Wall Street has been hopeful that generative AI will provide a much-needed revenue boost for the big three cloud providers. The one exception is Microsoft, which has spent billions investing in generative AI startup OpenAI, maker of the chatbot ChatGPT. Amazon CEO Andy Jassy stressed on the earnings call Thursday that generative AI is still in its "early days."

Persons: Karl Keirstead, they're, they'd, Rishi Jaluria, Andy Jassy, Jassy, Ellen Thomas Organizations: Microsoft, Web Services, Google, UBS, Enterprises, Wall, RBC Capital Markets, Amazon Locations: Ukraine, Israel, ethomas@insider.com

☆ The generative-AI hype hasn't translated to cloud sales yet, as customers don't know if they should jump in. Microsoft is the one exception.
▼ + stars: | 2023-10-27 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Rates of cloud-computing sales growth slowed to historical lows this year as customers slashed IT budgets. Microsoft and Google, the next two biggest American cloud providers, also saw rates of cloud-revenue growth slow this year. Microsoft's Azure and other cloud services saw revenue growth of 29%, down from 35% this time last year. Google this week reported a 22% year-over-year increase in cloud revenue the past quarter, down from 28% the previous quarter. The company attributed this to customer "optimization," or looking for ways to save money on cloud services.

Persons: Karl Keirstead, they're, they'd, Rishi Jaluria, Andy Jassy, Jassy, Ellen Thomas Organizations: Microsoft, Web Services, Google, Enterprises, UBS, Wall, RBC Capital Markets, Amazon Locations: Ukraine, Israel, ethomas@insider.com

On the earnings front, United Parcel Service (UPS.N) dipped 3.5% after lowering its full-year revenue forecast, while Royal Caribbean Group (RCL.N) rose 2.5% after the cruise company raised its full-year profit forecast. Hasbro (HAS.O) fell 8.2% after the maker of Transformers action figures cut its annual revenue forecast. So far, 80% of the 146 S&P 500 companies that have reported results have beat earnings expectations, LSEG data showed on Wednesday. ET, Dow e-minis were down 151 points, or 0.46%, S&P 500 e-minis were down 30.75 points, or 0.73%, and Nasdaq 100 e-minis were down 146.25 points, or 1.01%. Align Technology (ALGN.O) tanked 23.9% after the dental company lowered its full-year revenue forecast.

Persons: Brendan McDermid, Tesla, Bob Savage, BNY Mellon, Ankika Biswas, Shashwat Chauhan, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Ford, UAW Futures, Dow, Nasdaq, Big Tech, Treasury, Microsoft, United Parcel Service, Royal Caribbean Group, Hasbro, Mattel, Market, BNY, Federal Reserve, Dow e, Hamas, Ford Motor, United Auto Workers, Technology, Thomson Locations: New York City, U.S, Israel, Gaza, Russia, Bengaluru

☆ Analysts are bullish on Amazon's growth story ahead of its earnings
▼ + stars: | 2023-10-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

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

☆ OVH forecasts lower revenue growth in 2024 amid tough backdrop
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

The logo of French cloud computing company OVHcloud is seen on the company's building in Paris, France, January 25, 2023. REUTERS/Sarah Meyssonnier Acquire Licensing RightsOct 25 (Reuters) - OVHcloud (OVH.PA) on Wednesday forecast lower organic growth in the next fiscal year, citing uncertain macroeconomic conditions continue to dent the French cloud services provider's operations. OVH sees its revenue in the 2024 fiscal year to rise by 11-13%, while analysts in a company-compiled poll expect full-year revenue growth of 14.7% on average. Revenue in the year rose 13.4% to 897 million euros ($950.91 million), a touch below 899.8 million seen by analysts, OVH said. This came in line with its latest forecast for a 13-14% full-year growth.

Persons: Sarah Meyssonnier, OVH, Boleslaw Lasocki, Christopher Cushing, Sherry Jacob, Phillips Organizations: REUTERS, Revenue, Thomson Locations: Paris, France, North America

☆ The startup extinction wave is rising and it's beginning to wash over the cloud industry
▼ + stars: | 2023-10-25 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

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

☆ Italy, Europe need state-controlled cloud services - Leonardo chief
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

ROME, Oct 25 (Reuters) - Italy and other European countries need government-controlled cloud services to store sensitive data, the head of Italian defence and electronics firm Leonardo (LDOF.MI) said on Wednesday, calling it "one of the key issues of our future". "In my opinion, a safe country needs a government cloud, at least for financial, health and defence data," Chief Executive Roberto Cingolani told a hearing at the defence committee of the Italian lower house of parliament. First of all creating a (national) government cloud. Then understanding that these (national) government clouds need to become European government clouds," he said. Leonardo, a listed company controlled by the Italian government, offers cloud services to the Italian state through a consortium including Telecom Italia (TLIT.MI), Italian state lender CDP and state-owned IT firm Sogei.

Persons: Leonardo, LDOF.MI, Roberto Cingolani, Cingolani, Alvise Armellini, Mike Harrison Organizations: Telecom Italia, Thomson Locations: Italy, Europe

☆ 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

☆ A bullish options trade on Amazon into earnings as the stock bounces off key support
▼ + stars: | 2023-10-25 | by ( Tony Zhang | ) www.cnbc.com time to read: +2 min

With earnings as the primary focus this week, Amazon (AMZN) sits at the intersection of both enterprise and consumer spending. Additionally, after hosting its biggest Prime day in July and October, spending and retail sales continue to show a resilient consumer. As the outlook for consumer spending looks more uncertain, that is the primary risk I see going into this earnings report. My view is that we should utilize options to take a bullish view going into this earnings report, thus mitigating those risks. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: AMZN Locations: Australia

☆ F5 forecasts weak annual revenue on sluggish IT spending
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

Oct 24 (Reuters) - Cybersecurity and cloud services company F5 (FFIV.O) on Tuesday forecast fiscal 2024 revenue below Wall Street estimates, signaling that businesses were tightening tech spending amid an uncertain economic outlook. The company has transitioned to a model that prioritizes software and subscription services but sluggish IT spending has proved a roadblock. F5 forecast full-year revenue would range from flat to a low-single-digit percentage decline, compared with fiscal 2023. For the first quarter, it forecast revenue in the range of $675 million to $695 million, slightly below estimates of $695.8 million. The company, which provides software and hardware that supports applications over the internet, said its quarterly revenue grew 1% to $707 million, compared with estimates of $701.4 million.

Persons: Zaheer Kachwala, Devika Organizations: Wall, Big, Accenture, Thomson Locations: Bengaluru

☆ Microsoft's quarterly results and guidance showcase its AI prowess
▼ + stars: | 2023-10-24 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Nadella touted Azure's AI leadership on the post-earnings conference call, calling its AI infrastructure the best for both training and inference, while noting it has deployed its AI services in more regions than any other cloud providers. Gaming was also a strong, with Xbox content and services revenue increasing 12% on a constant-currency basis. Rounding out the quarter, revenue at the productivity-and-business-processes unit increased about 13%, to $18.59 billion, beating estimates of $18.19 billion. Some key highlights include the 17%-constant-currency increase in Microsoft Office commercial revenue growth, which benefitted from a 10% increase in seat growth. Second quarter Azure revenue growth is expected to be 26% to 27% in constant currency.

Persons: Satya Nadella, Nadella, Jim Cramer's, Jim Cramer, Jim, Omar Marques Organizations: Microsoft, Revenue, LSEG, Club, Fortune, Gaming, Activision Blizzard, CNBC, Getty

SAN FRANCISCO (AP) — Google’s digital advertising sales growth accelerated during the summer, advancing a recent revival that helped its corporate parent Alphabet Inc. to deliver a quarterly profit that exceeded analysts' projections. The third-quarter results released Tuesday for the July-September period included a 9% increase in Google’s ad sales from the same time last year. Those gains were the main reason Alphabet’s total revenue rose 11% from a year ago to $76.69 billion. The upturn was even better than the 7% year-over-year increase in revenue that Alphabet produced in the April-June period when it reversed an unprecedented drop in Google’s ad revenue after nearly 20 years of growth. “While the traction it has among AI startups may bear fruit in the long run, it is not currently helping Google Cloud enough to satisfy investors.”The Cloud letdown appeared to take the luster off the third-quarter report for many investors.

Persons: stoking, Sundar Pichai, ”, Max Willens, “ We’re, ” Pichai, Department’s Organizations: FRANCISCO, Inc, Google's, Microsoft, Google, U.S . Locations: , California, East, Ukraine

☆ Shein, the fast fashion darling mulling a U.S. IPO, opens up about forced labor, data privacy
▼ + stars: | 2023-10-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +16 min

The committee is investigating Shein over concerns that Uyghur forced labor is being used in its supply chain and has gone undetected because of the de minimis provision. The committee has not yet drawn conclusions about forced labor in Shein's supply chain. When asked about claims of forced labor in Shein's supply chain, Claure told CNBC he doesn't "believe those allegations are correct." However, forced labor can still show up in other parts of the supply chain, said Chloe Cranston, the head of thematic advocacy programmes at Anti-Slavery International. In 2022, 11% of audits turned up "zero tolerance violations," including child labor, forced labor and wage violations, and 28 suppliers were terminated as a result, according to the company.

Persons: Elham Ataeiazar, Shein, Donald Tang, Matt Kennedy, they're, they've, Mike Gallagher, Elise Stefanik, Steve Scalise, Chip Somodevilla, we're, Marcelo Claure, Claure, Ralph Lauren, Rupert Hodges, Oritain, Chloe Cranston, Cranston, It's, it's, Shang, Jin Wei, Wei, Austin Knudsen, Chris Xu, Jade Gao, Knudsen, Gary Gensler Organizations: Wall, Bear, Chinese Communist Party, U.S, Renaissance Capital, CNBC, Bloomberg, Nike, Adidas, Republican National Committee, Washington , D.C, D.C, Target, Costco, Visual China, Getty, Workers, Columbia University's, Communist, CCP, Microsoft, AFP, U.S . Securities, Exchange Locations: Bear Stearns, U.S, China, Beijing, Xinjiang, Washington ,, Washington, Singapore, Nanjing, United States, Chinese, Guangzhou, Brazil, Turkey, India, Mexico, Montana

☆ Wright: You want to focus on expectations for the Fed, that will drive stock prices
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWright: You want to focus on expectations for the Fed, that will drive stock pricesDegas Wright of Decatur Capital discusses the state of the economy and future Fed policy, and why he's focusing on a biotech name and a company that provides cloud services for the life sciences and healthcare industry.

Persons: Degas Wright Organizations: Decatur Capital

☆ 4 tech giants have cemented their AI dominance. But there's even more room for growth
▼ + stars: | 2023-10-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

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

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

"I just want to say how deeply saddened that we all are about the recent horrific attacks on Israel ... He warned that the war in Ukraine, compounded by the attacks on Israel, could have "far-reaching impacts on energy and food markets, global trade, and geopolitical relationships." On Friday, Citigroup CEO Jane Fraser included Israel in her opening remarks on the bank's earnings call. "Once someone ventures into the space of, 'who is the perpetrator and who is the victim,' you enter into the exposure of social media disinformation and risk," Kotok said. Some large companies including Apple (AAPL.O) and Walmart (WMT.N) had yet to issue statements, while some prominent personalities including NBA star LeBron James have spoken out.

Persons: JPMorgan Chase, Jamie Dimon, Albert Bourla, Jefferies, Michael Bloomberg, Goldman Sachs, Jane Fraser, Israel, Fraser, Larry Fink, David Kotok, Cumberland, Kotok, Antonio Neri, Andy Jassy, Sundar Pichai, Satya Nadella, LeBron James, Gigi Hadid, Lananh Nguyen, Aditya Soni, Stephen Nellis, Siddharth Cavale, David Gaffen, Arriana, Sayantani Ghosh, David Gregorio Our Organizations: JPMorgan, Pfizer, UBS, New York City, Bloomberg, Delta Air Lines, Citigroup, BlackRock, Cumberland Advisors, Hewlett Packard Enterprise, Amazon, Meta, Union, Google, Microsoft, Apple, Walmart, NBA, Thomson Locations: Israel, Ukraine, New York, Florida, Bengaluru

Companies Cloudflare Inc FollowGoogle Inc FollowAlphabet Inc Follow Show more companiesWASHINGTON, Oct 11 (Reuters) - Internet companies Google, Amazon and Cloudflare say they have weathered the internet's largest-known denial of service attack and are sounding the alarm over a new technique they warn could easily cause widespread disruption. Internet protection company Cloudflare Inc (NET.N) said the attack was "three times larger than any previous attack we've observed." Amazon.com Inc's (AMZN.O) web services division also confirmed being targeted by "a new type of distributed denial of service (DDoS) event." The firms urged companies to update their web servers to ensure that they do not remain vulnerable. None of the three companies said who was responsible for the denial of service attacks, which have historically been difficult to attribute.

Persons: we've, Raphael Satter, Sandra Maler Organizations: Google, Inc, Cloudflare Inc, Thomson Locations: WASHINGTON

☆ Data centers are booming. Their need for power is causing utilities to retreat on green energy.
▼ + stars: | 2023-10-09 | by ( Daniel Geiger | Ellen Thomas | ) www.businessinsider.com time to read: +18 min

Katie Hobbs at Google's September announcement of a a new $600 million data center in Mesa, Arizona. The amount of electricity needed to power data centers in the U.S. is expected to more than double by 2030, according to McKinsey. "With data centers, you're going to do all of the above to have capacity to meet those loads." Utilities struggle to meet data center loads while cutting carbonThe utility-level impact of the data center industry's energy demand reaches beyond Phoenix. In preliminary documents, it has identified data centers as "the major source of load growth during 2023-2038."

Persons: Karla Moran, Moran, Katie Hobbs, you've, Terry Boston, James Glynn, Glynn, Caryn Potter, it's, OPPD, that's, David Corbin, Corbin, Valerie Plesch, Aaron Ruby, Devon Smiley, Smiley, Lee Kestler, Ruby, George Frey, Wendy Bridges, Bridges, Jill Hanks, Hanks, Potter, Meghin Delaney, Reno, Kestler, EdgeCore, Hunter Holman, Delaney, Holman Organizations: Microsoft, Google, Digital Realty, Arizona Gov, McKinsey, PJM, Columbia University's Center, Global Energy Policy, Southwest Energy Efficiency, Utilities, Omaha Public Power, Sierra Club's, The Washington, Getty, Dominion Energy, Dominion, Blackstone, KKR, APS, Phoenix, Goodyear, NV Energy, Reno, Bay Area, Silver State, Western Resource Locations: Phoenix, Salt, Mesa , Arizona, City, Mesa, U.S, Arizona, Phoenix . Omaha , Nebraska, New York, Sierra Club's Nebraska, Woodbridge , Virginia, Virginia, Nebraska, OPPD, Eagle Mountain , Utah, Brookfield, Seattle, Goodyear, Bay, Nevada, Reno, Las Vegas, North

☆ Analyst on regulator's probe in tech giants' role in the cloud sector
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Being big is not bad', analyst discusses regulator's probe in tech giants' role in the cloud sectorCompanies always use multiple cloud service providers, says Brent Thill of Jefferies. He adds that Microsoft and Amazon always "find harmony" with the regulators.

Persons: Brent Thill, Jefferies Organizations: Microsoft

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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