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Microsoft took the unusual step on Monday of publicly criticizing longtime rival Google for running "shadow campaigns" in Europe designed to discredit the software giant with regulators. "This week an astroturf group organized by Google is launching," Microsoft lawyer Rima Alaily wrote. "We've been very public about our concerns with Microsoft's cloud licensing, a Google cloud spokesperson said in an email. Google funded the Coalition for Fair Software Licensing that last year asked the U.S. Federal Trade Commission to investigate Microsoft, Alaily wrote. WATCH: Google Cloud exec says Microsoft is in violation of EU antitrust laws
Persons: Rima Alaily, Alaily, Microsoft's, didn't Organizations: Microsoft, Google, Justice Department, Group, Open Cloud Coalition, DGA, European Commission, Amazon Web Services, Amazon, Coalition for, Software, U.S . Federal Trade Commission, Cloud Infrastructure Services Locations: Europe, U.S, Monday's
What's more, the enormous Amazon Web Services cloud services business effectively allows Amazon the leeway to figure out the best path forward in terms of applying AI to the rest of its businesses. At the same time, Amazon's Prime Video platform presents a formidable opponent against Netflix . Wang also said Amazon's Prime membership rolls could benefit from the upcoming holiday shopping season. So Amazon has a little bit of time to get their AI story right," he said. Wang added that investors can expect more insight into Amazon's investments during its December re:Invent conference.
Persons: Ray Wang's, Wang, Amazon's Organizations: Constellation Research, Amazon, Netflix, Microsoft, Google
For now, analysts and investors are looking to Amazon's third-quarter earnings report Thursday night for more clarity. Amazon hopes that Kuiper could bring broadband connectivity to some 400 million to 500 million households that currently lack it. Bank of America, on the other hand, estimates around $3.5 billion in Kuiper spending next year. The Kuiper spending estimates might seem steep, but the analysts aren't telling investors to dump shares. The "ultra-compact" version of the Project Kuiper Amazon
Persons: Jeff Marks, Andy Jassy, Kuiper's, Marks, Kuiper, Evercore, BofA, Morgan Stanley, Morgan Stanley's, Starlink, Elon Musk's, EBITDA, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon, Web Services, AWS, Wedbush Securities, Federal Communications Commission, FCC, Bank of America, FactSet, SpaceX, Viasat, CNBC Locations: Amazon's
The billionaire has been less prominent in the election than Elon Musk — but still has much at stake. Bezos's Blue Origin is working with NASA and the Pentagon as it plays catch-up with Musk's SpaceX. Executives from Bezos' rocket company Blue Origin, including CEO Dave Limp, spoke with Donald Trump on Friday, The Associated Press reported. Like all private space companies, Blue Origin relies heavily on federal contracts and is competing with SpaceX for government and military projects. Blue Origin did not respond to a request for comment from Business Insider.
Persons: Jeff Bezos's, Elon Musk, , Jeff Bezos, Dave Limp, Donald Trump, Kamala Harris, William Lewis, Bezos, Lewis, Robert Kagan, Michele Norris, Marty Baron, Baron, Elon, Artemis, it's, SpaceX's, Trump Organizations: Washington Post, NASA, Pentagon, Musk's SpaceX, Service, Bezos, Associated Press, New York Times, Trump, SpaceX, Republican, PAC, Business, Bloomberg, White, Twitter, United States Post, United States Postal Service, Web Services, of Defense, Microsoft Locations: Washington, The Texas, Amazon
Monday Ford Motor is set to report earnings after the bell, followed by a conference call at 5 p.m. What history shows: Bespoke Investment Group data shows Ford beats earnings expectations 68% of the time. What to watch: Meta is in a good spot heading into this week's report, according to Bernstein's Mark Shmulik. Microsoft is set to report earnings after the close, with a conference call on deck for 5:30 p.m. Amazon is set to report earnings after the market close, with a conference call at 5 p.m.
Persons: Edison Yu, Yu, BioNTech, Goldman Sachs, Toshiya Hari, Hari, LSEG, Bernstein's Mark Shmulik, Morgan Stanley's Keith Weiss, AAPL, KeyBanc, Justin Post Organizations: Apple, Ford Motor . Pharmaceutical, Pfizer, Corporate America, Monday Ford, LSEG, Ford, AMD, Cloud Service, Google, Microsoft, Windows, CNBC, Management, Amazon Web Services, Bank of America, Amazon Locations: Temu, .
For all we know, the yield curve may simply be going through the birthing of an un-inverted yield curve. GOOGL YTD mountain Alphabet YTD Search used to be so simple. META YTD mountain Meta Platforms YTD Meta Platforms has run big ahead of the quarter. AMZN YTD mountain Amazon YTD Let's get to the two toughest of the week, Amazon and Apple. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: let's, Eli Lilly, nonfarm payrolls, Carl Quintanilla, batty, Jeff Marks, Waymo, Elon Musk, Donald Trump, Kamala Harris, Department's, Mark Zuckerberg, Jensen Huang, Marc Benioff, Trump, Warren Buffett, Jim Cramer's, Jim Cramer, Jim Organizations: CNBC, Microsoft, Apple, Treasury, Federal Reserve, charlatans, Honeywell, Twitter, Club, Gemini, YouTube, Google, Donner Party of cannibalization, AMD, Nvidia, Intel, Merck, Pfizer, Tech Titans, Meta, Amazon Web Services Locations: Wall, cyclicals, California, Philly
The Street is looking for Stanley Black & Decker sales of $3.8 billion in the third quarter and earnings per share (EPS) of $1.05. The Street is looking for Linde sales of $8.35 billion in the third quarter and EPS of $3.89. In addition to the headline results and forward guidance, overall organic sales growth and data center energy power demand will be focus items for investors. The Street is looking for sales of $94.47 billion in its fiscal fourth quarter and EPS of $1.55. The Street is looking for Coterra sales of $1.3 billion in the third quarter and EPS of 34 cents.
Persons: That's, It's, Stanley Black, Decker, we're, We're, Eli Lilly, Lilly, Amy Hood's, Brian Niccol, Wednesday's, Linde, it's, we'll, Phillips, Horton, Kraft Heinz, SIRI, Estee Lauder, BUD, Cardinal Health, Jim Cramer's, Jim Cramer, Jim, Stephanie Keith Organizations: Nasdaq, Dow, Fed, PCE, YouTube, Justice, AMD, GE Healthcare, Reality Labs, Microsoft, Management, Starbucks, U.S, Presidential, Linde, Apple Intelligence, Amazon, Services, Coterra Energy, WM, Cadence Design Systems, Labor, PayPal, BP, Pfizer, Royal Caribbean Cruises, JetBlue, HSBC, Devices, Grill, Electronic Arts, EA, Gross, Caterpillar, Brinker International, AFortive Corporation, Illinois Tool, Coinbase, eBay, EBAY, Booking Holdings, MGM Resorts, MGM, Bausch Health, LIN, Merck, ConocoPhillips, Mastercard, Altria, Cruise, Myers Squibb, Comcast, Mobileye, Cheniere Energy, Regeneron Pharmaceuticals, Anheuser, Busch InBev, Intel, United States Steel, Juniper Networks, Chevron, Exxon Mobil, Dominion Energy, Charter Communications, LyondellBasell Industries, Cardinal, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Eaton, Corning, Illinois, Bristol, New York City
The company's energy strategy team recently pitched CEO Andy Jassy on the benefits of nuclear power. AdvertisementIn June, Amazon's Global Energy Strategy team pitched CEO Andy Jassy the idea of doubling down on nuclear power to support its growing network of data centers. Jassy agreed, according to an internal Amazon document from the third quarter that was obtained by Business Insider. The company considered tapping into at least four additional existing nuclear power plants and sought even more small modular reactor deals. Nuclear power can be safer, more reliable, and more cost-efficient in the long term compared to other power sources, according to Jacopo Buongiorno, a nuclear engineering professor at MIT.
Persons: Andy Jassy, , Thos Robinson, It's, Sam Altman, Jassy, Jacopo Buongiorno, Buongiorno Organizations: Service, Amazon's Global Energy, Business, Amazon, Amazon Web Services, Hulton, Google, Kairos, Microsoft, Amazon's Global Energy Strategy, BI, US Department of Energy, MIT, Global Energy Strategy Locations: Pennsylvania, Fukushima, Maryland, Texas
Amazon promoted Garman to be the CEO of Amazon Web Services this year, right as competition in cloud computing and AI intensified. Garman has nearly 20 years of experience across engineering and sales roles at the company. His deep understanding of the business helped shape AWS's early approach to generative AI and the creation of AI products, like Amazon Q and Bedrock. He also led the establishment of the AWS Generative AI innovation Center, designed to collaborate with customers and help them identify opportunities in AI. See Business Insider's full AI Power List
Persons: Garman Organizations: Amazon, Amazon Web Services
Electricity and labor headwinds slow Amazon's data center buildout. AdvertisementAmazon is spending heavily on data centers to support booming AI workloads, putting it on pace to build 240 new facilities by 2040, one estimate found. David Cahn, a Sequoia Capital general partner, recently predicted data center delays across the sector. Bernstein Research recently estimated that electricity demand for AI data centers could exceed supply in just two years without action. An Amazon data center in Oregon.
Persons: , It's, David Cahn, Marc Wulfraat, MWPVL, we've, Bernstein, Amazon's, Matt Garman, JOSH EDELSON, Garman, Manuel Pineda, Pineda, Owens Corning Organizations: Service, Sequoia Capital, Energy, Amazon, Boston Consulting Group, Bernstein Research, Business, Web, San Francisco 49ers, BI, AWS, Uptime Institute, Center, Survey Locations: AMER, Americas, Oregon , Ohio, Northern Virginia, Amazon's Portland, Arizona, Indiana, Pennsylvania, Silicon Valley, Santa Clara , California, Santa Clara, Levi's, City, Santa, Oregon
Amazon Web Services CEO Matt Garman defended the company's return-to-office mandate for January. AdvertisementAmazon Web Services CEO Matt Garman reiterated on Monday night why the recently announced return-to-office mandate is right for the company. Amazon CEO Andy Jassy announced last month that most corporate employees would be required to return to the office five days a week starting in January. When BI reached out about Garman's comments last week, an Amazon spokesperson declined to comment but pointed to Jassy's RTO announcement in September. BI's Ashley Stewart viewed internal messages after the policy was announced, showing that some Amazon employees were unhappy with the change.
Persons: Matt Garman, Garman, , Andy Jassy, BI's Ashley Stewart Organizations: Amazon Web, Service, Web, Amazon, Business, BI
Nine out of 10 employees are 'excited' by the change, Garman said, but those who disagree are welcome to leave. AdvertisementThe majority of Amazon employees favor the company's new five-day return-to-office policy, Amazon Web Services CEO Matt Garman has told staff during an all-hands meeting. Garman addressed the RTO policy introduced by Amazon in September, which has faced strong pushback from some employees. It is Garman's first official response to Amazon's new RTO policy and comes after the company received backlash from some employees. Related storiesDuring the all-hands meeting, Garman said employees will not always need to be in the office.
Persons: Matt Garman, Garman, , we're, Andy Jassy's Organizations: Business, Service, Amazon, Web, AWS
LONDON — Cybersecurity firm Wiz is seeking to hit $1 billion of annual recurring revenues next year, the company's billionaire co-founder Roy Reznik told CNBC, adding that the firm will go public "when the stars align." Earlier this year, the company rejected a $23-billion acquisition bid from Google , which would have marked the tech giant's largest-ever takeover. At the time, Wiz CEO Assaf Rappaport said the startup was "flattered" by the offer, but would remain an independent company and aim to list instead. "We've already broken a few records as a private company, and we believe we can also break a few more records as an independent public company as well," Reznik said. Four-year-old Wiz has raised $1.9 billion in venture capital to date, including $1 billion secured this year in a funding round led by Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital at a valuation of $12 billion.
Persons: Wiz, Roy Reznik, Assaf Rappaport, Reznik, Andreessen Horowitz Organizations: CNBC, Amazon Web Services, Microsoft, Google, Lightspeed Venture Partners Locations: Tel Aviv, Israel, London
Independent power producers Vistra , Constellation Energy and Talen Energy are positioned to benefit from a "paradigm shift" in electric demand from artificial intelligence data centers, according JPMorgan. "We see structural tailwinds, including manufacturing onshoring, broader electrification trends (transportation, heating, and more), as well [as] data center development underpinning a paradigm shift in power demand," Tonet and his team told clients in research report. Demand from tech companies for carbon-free power to drive their data centers will transform nuclear power and enable its owners to "command a substantial premium," they wrote. CEG 1Y mountain Constellation Energy shares over the past 12 months. TLN 1Y mountain Talen Energy stock over the past year
Persons: Jeremy Tonet, Tonet, Vistra Organizations: Constellation Energy, Talen, JPMorgan, Lone Star State, VST, Microsoft, Constellation, Amazon Web Services, Susquehanna, Energy Locations: Wednesday's, Texas, Pennsylvania
Amazon 's cloud boss on Thursday gave employees a frank message about the company's recently announced five-day in-office mandate. Staffers who don't agree with Amazon's new policy can leave, Amazon Web Services CEO Matt Garman said during an all-hands meeting at the company's second headquarters in Arlington, Virginia. "If there are people who just don't work well in that environment and don't want to, that's OK, there are other companies around," Garman said, according to a transcript viewed by CNBC. The company's previous return-to-work stance required corporate workers to be in office at least three days a week. The move has spurred backlash from some Amazon employees who say they're just as productive working from home or in a hybrid work environment as they are in an office.
Persons: Matt Garman, Garman, Adam Selipsky, he's, didn't Organizations: Amazon Web, CNBC, Reuters, Amazon, Employees, Microsoft, Google, AWS Locations: Arlington , Virginia
Amazon Web Services is investing over $500 million in nuclear power, announcing three projects from Virginia to Washington State. Amazon is the latest large tech company to buy into nuclear power to fuel the growing demands from data centers. An estimated 70% of the world’s internet traffic travels through Data Center Alley each day. “Small modular nuclear reactors will play a critical role in positioning Virginia as a leading nuclear innovation hub,” said Virginia Gov. “Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace,” said X-energy CEO J. Clay Sell.
Persons: It’s, there’s, , Matthew Garman, Bob Blue, Glenn Youngkin, Youngkin, Garman, Ken Griffin, Clay Organizations: Amazon, Services, Washington State, AWS, Amazon’s, Dominion Energy, Nuclear, Google, Kairos, Constellation Energy, Microsoft, Dominion, Gov, Energy, Fund, Citadel, Ares Management Corporation, NGP, University of Michigan, Talen Energy, Susquehanna Steam Electric Locations: Virginia, Washington, Dominion’s, SMRs, ” Virginia, U.S, Northern Virginia, Loudon County, Washington State, Northwest, Maryland, Salem Township , Pennsylvania, Talen
She and Nym CEO Harry Halpin said they avoid Google and Microsoft products over security concerns. In her consulting role, she assesses clients' data privacy practices and makes recommendations to improve their security. Advertisement"I'm not saying that you have to go out and buy an iPhone or Apple products — I have no investment in Apple," Manning told BI. Halpin is a cryptographer and former senior research scientist at MIT, who said he also avoids Microsoft and Google products because of his concerns about keeping his data secure. Related storiesMicrosoft, Google, and Apple representatives did not respond to requests for comment from Business Insider about this story.
Persons: Chelsea Manning, Harry Halpin, , Chelsea Manning —, Manning, Obama, doesn't, Nym's, Halpin, Chris Hauk, Dinesh Besiahgari, Besiahgari, it's, " Halpin Organizations: Google, Microsoft, Service, Army, Apple, MIT, Business, Trust, Security, Amazon Web Services
One of the National Football League's toughest competitions doesn't take place anywhere near a football field. For the seventh year in a row, data scientists and analytics buffs will be invited to test their mettle against each other in the league's Big Data Bowl, powered by Amazon Web Services. The competition's goal is to distill the copious amounts of data collected from every player during every NFL game into stats and insights that the league and its teams can learn from. The Big Data Bowl was first introduced by the NFL in 2018 and quickly became a fertile proving ground for teams to find bright minds to add to their front offices. This year's competition challenges participants to use data collected before the ball is snapped to help predict what an offense or defense is going to do during a given play.
Persons: Mike Lopez Organizations: National Football, Amazon Web Services, NFL, CNBC
Amazon Web Services is investing over $500 million in nuclear power, announcing three projects from Virginia to Washington State. Amazon is the latest large tech company to buy into nuclear power to fuel the growing demands from data centers. "Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace," said X-energy CEO J. Clay Sell. Last spring, AWS invested in a nuclear energy project with Talen Energy , signing an agreement to purchase nuclear power from the company's existing Susquehanna Steam Electric Station, a nuclear power station in Salem Township, Pennsylvania. AWS also purchased the adjacent, nuclear-powered data center campus from Talen for $650 million.
Persons: It's, there's, Matthew Garman, Bob Blue, Glenn Youngkin, Youngkin, Garman, Ken Griffin, Clay Sell Organizations: Amazon, Services, Washington State, AWS, Dominion Energy, Nuclear, Google, Kairos, Constellation Energy, Microsoft, Dominion, Gov, Energy, Fund, Citadel, Ares Management Corporation, NGP, University of Michigan, Talen Energy, Susquehanna Steam Electric Locations: Virginia, Washington, Dominion's, SMRs, U.S, Northern Virginia, Loudon County, Washington State, Northwest, Maryland, Salem Township , Pennsylvania, Talen
The vast majority of analysts surveyed by FactSet hold a strong buy or buy rating on the stock. Despite its recent slowdown, analysts surveyed by FactSet have a consensus buy rating on the dominant e-commerce platform. Bullish voices on the stock include Goldman Sachs analyst Eric Sheridan, who recently reiterated a buy rating and $230 price target. JPMorgan's Anmuth is similarly positive on Amazon ahead of earnings, rating the stock overweight and saying it remains the favorite in the bank's firm's internet sector coverage. The consensus FactSet rating on Meta is buy, with an average price target of $604, suggesting just 2.3% potential upside.
Persons: Roundhill, , selloff, Goldman Sachs, Kash Rangan, Nvidia's Blackwell, Brad Zelnick, Amit Daryanani, Daryanani, Apple's wearables, qtr, Tim Cook's, you'd, Morgan Stanley, Jensen, Blackwell, Biden, Tesla, enthusiam, Elon, Wells, Colin Langan, Department's, Doug Anmuth, Bank of America's Justin Post, Eric Sheridan, Sheridan, Goldman, Anmuth, Baird, Roth MKM, JPMorgan's Anmuth, Goldman's Sheridan, Meta's, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, CNBC, Windows, Investment, Deutsche Bank, Justice Department, Blackwell, Bloomberg, Ford, General Motors, EV, Google, FactSet, Bank of America's, ISI, Walmart, Costco, eBay, Meta, Ray, Labs, Facebook, Temu, Goldman Locations: China, FactSet, ., Downside, U.S, Wells Fargo, American, Meta's Asia, Pacific
CNBC's Jim Cramer on Monday marked the two-year anniversary of the current bull market with an ode to Nvidia and the U.S. semiconductor industry. "We have a remarkable semiconductor rally, and it is at the heart of this market," Cramer said on "Squawk on the Street." Broadcom helps tech heavyweights, most notably Alphabet-owned Google , design specialty AI chips and also provides other products used inside data centers. NVDA .SPX mountain 2022-10-12 Nvidia's stock performance compared with the S & P 500 during the two-year bull market, which began on Oct. 12, 2022. "Amazon is the company that Jensen kept referencing to me as a great friend," said Cramer, whose Trust also owns Amazon stock.
Persons: CNBC's Jim Cramer, Cramer, Dell, Jensen Huang, Jensen Organizations: Nvidia, Micro Computer, Broadcom, Cramer's Charitable Trust, CNBC, Club, Micro, Arista Networks, Dell Technologies, Arista, Facebook, Meta, Amazon Web Locations: U.S, Cramer's
One of Amazon's top AI executives is out
  + stars: | 2024-10-09 | by ( Eugene Kim | ) www.businessinsider.com   time to read: +2 min
Matt Wood, the vice president of AI at Amazon Web Services, is leaving after 15 years. Wood's departure comes amid fierce AI competition from Microsoft, Google, and OpenAI. AdvertisementMatt Wood, the vice president of artificial intelligence at Amazon Web Services, is leaving. He worked on AWS's machine-learning and AI technology, laying some of the groundwork for the company's latest growth initiatives. Related storiesIt's also the latest exit amid AWS's notable executive turnover in recent years.
Persons: Matt Wood, , Wood, he's, didn't, It's, Adam Selipsky, Matt Garman, Richard Puccio, Rachel Thornton, Chris Vonderhaar Organizations: Amazon Web, Microsoft, Google, AWS, Service Locations: Amazon
Ark Invest expects this tech stock to disrupt Big Tech firms
  + stars: | 2024-10-08 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +2 min
Big Tech companies will face stiff competition over the coming years, with emerging players in software and data management taking market share, according to Ark Invest. Mega-cap U.S. firms such as Microsoft , Amazon , Google , and Oracle have led the charge in the rise of artificial intelligence. Palantir Palantir, a data analytics company, appears to be providing customized AI and data services to its customers, compared with off-the-shelf products from Big Tech giants. The value of Palantir's services becomes even more compelling when combined with AI capabilities, according to Ark's Bhushan. So Palantir goes in, and it consolidates all this data," Bhushan noted.
Persons: Rahul Bhushan, CNBC's, Bhushan, Palantir, Ark's Bhushan, PLTR Organizations: Big Tech, Invest, Microsoft, Google, Oracle, Ark Invest, Amazon Web Services, Ark Venture
The bank raised its 2024 S & P 500 target to 6,000 from 5,600. Goldman also raised its 12-month S & P 500 target to 6,300 from 6,000. But Goldman thinks ultimately earnings growth will lift markets further before the year is out. The S & P 500 is in the red for October so far. Analysts polled by FactSet expect S & P 500 earnings grew for a fifth straight quarter.
Persons: Goldman Sachs, That's, Goldman, David Kostin, Kostin, Wells, Ken Gawrelski Organizations: Evercore ISI, CNBC, Federal Reserve, FactSet, North America Retail Locations: Friday's
It has a price target of $68, implying more than 1% downside from Friday's close. — Sean Conlon 5:41 a.m.: Jefferies downgrades Apple Oversized expectations for the iPhone could hurt of Apple lower, according to Jefferies. Analyst Edison Lee downgraded the stock to hold from buy, and his price target of $212.92 implies more than 6% downside from Friday's close. His price target of $800, up from $650, implies upside of 11.2% from Friday's close. He kept his $550 price target unchanged, implying downside of more than 23%.
Persons: Piper Sandler, Jefferies, Bernard von, Gizycki, — Sean Conlon, Wells, Ken Gawrelski, Fred Imbert, JPMorgan downgrades Lamb Weston, Lamb Weston, Ken Goldman, Goldman, Edison Lee, Lee, Matt Farrell, Farrell, Kannan Venkateshwar Organizations: CNBC, Netflix, Apple, Alliance, Western Alliance, Deutsche Bank, WAL, Amazon, North America Retail, JPMorgan, U.S, Jefferies, AP, Barclays Locations: Wells Fargo, Europe, Friday's
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