Maria Deutscher
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Datadog shares plummet despite expectation-topping quarterly results
Datadog Inc.’s shares closed 19% lower today after it posted quarterly results and guidance that topped expectations. New York-based Datadog is a major provider of observability software. It also sells cybersecurity tools, a user experience monitoring suite and various related products. Several factors may be at play behind today’s stock selloff. Some investors may have ...
Confirming rumors, Anthropic reveals plan to develop custom chip
Anthropic PBC today disclosed that it plans to develop a custom artificial intelligence chip. A spokesperson told Business Insider that the company will co-design the processor with its future large language models. Usually, co-design initiatives focus on tailoring a chip to a specific workload. Such customization can significantly increase hardware efficiency. Off-the-shelf AI chips’ specifications ...
Uber shares slide on mixed second quarter results, weak guidance
Uber Technologies Inc.’s shares declined by 5.3% today after it posted mixed earnings and disappointing guidance. The ride-hailing giant’s revenue grew 12% in the second quarter to $14.19 billion. That’s about $50 million less than what analysts had expected. By contrast, Uber’s gross bookings, a metric that tracks the total value of customer purchases on ...
Despite cloud growth, Kyndryl shares drop 5.4% on quarterly revenue decline
Shares of Kyndryl Holdings Inc. closed 5.38% lower today after it reported a larger-than-expected sales decline for its fiscal first quarter. The technology services giant ended the three months through June 30 with $3.61 billion in revenue. That’s 3% less than a year earlier and 1.2% below the consensus estimate. Nevertheless, there were a number ...
Bending Spoons to acquire productivity software startup Airtable for $1.285B
Technology holding company Bending Spoons S.p.A. today announced plans to acquire Airtable Inc., the developer of a popular cloud-based spreadsheet platform. The all-cash deal is worth $1.285 billion. That’s less than the approximately $1.4 billion Airtable has raised from its investors. The company was valued at $11.7 billion following its most recent funding round, a ...
OpenAI publicly pushes back against Apple lawsuit after new filing
OpenAI Group PBC has publicly pushed back against a lawsuit that Apple Inc. filed against it last month. The ChatGPT developer outlined its arguments in a blog post published on Monday. The move came shortly after Apple submitted a new court filing in connection with its litigation. In the document, the company asks the court ...
DigitalOcean tops second quarter expectations amid surging AI demand
DigitalOcean Holdings Inc. today posted second quarter earnings that topped analyst expectations across the board. The company also raised its third quarter guidance. DigitalOcean launched in 2011 to provide an alternative to the industry’s three leading public clouds. The company says that its platform is easier to use and provides lower pricing across some services. ...
Convex reels in $57M for its AI-optimized application backend
Developer tooling startup Convex Inc. today disclosed that it has closed a $57 million funding round led by Insight Partners. Etna Labs, Andreessen Horowitz and Spark Capital also contributed to the Series B investment. It brings Convex’s total outside funding to $110.5 million. Convex was founded in 2021 by former members of Dropbox Inc.’s infrastructure ...
June launches with $20M to speed up enterprise software projects
June.ai Technologies Inc., a startup that uses artificial intelligence to modernize enterprise software environments, launched today with $20 million in funding. The pre-seed round was led by Time Ventures with participation from SV Angel, Vesey Ventures and other funds. They were joined by several prominent angel investors. The group included Michael Dell, VMware co-founder Diane ...
Netflix co-founder backs $312M round for optical inference appliance maker Olix
Artificial intelligence hardware startup Olix Computing Ltd. today announced that it has raised $312 million in funding. The Series C round included contributions from Arm Holding plc, Netflix Inc. co-founder Reed Hastings and several others. Olix is now valued at $3.3 billion, about triple what it was worth after its previous raise in February. When ...