What Microsoft’s FQ3 2024 Earnings Reveal About Azure
Microsoft announced its fiscal Q3 2024 results, demonstrating robust growth. The company reported a total revenue of $61.9 billion, a 17% increase year-over-year, primarily driven by the cloud segment.
Microsoft’s Cloud business, which includes Azure and other cloud properties such as LinkedIn, generated over $35 billion in revenue, up 23%. During its earnings call, Microsoft said that Azure’s expansion and the increasing demand for AI infrastructure propelled much of its growth.
Research Note: IBM Acquires HashiCorp
IBM announced its intention to acquire HashiCorp, a multi-cloud infrastructure automation company, for $35 per share in cash, totaling an enterprise value of $6.4 billion.
HashiCorp specializes in Infrastructure Lifecycle Management and Security Lifecycle Management, crucial for hybrid and multi-cloud environments. This move aligns with IBM’s focus on hybrid cloud and AI, which are vital for today’s businesses.
What Alphabet Earnings Tell Us About Google Cloud
Google Cloud showed significant growth during the quarter, driven by the increasing demand for AI and cloud-based solutions. The business is positioned for continued growth, with a focus on infrastructure leadership, AI-driven innovations, and strong customer adoption.
Quick Take: Western Digital’s FQ3 2024 Earnings
Western Digital reported strong earnings for its third quarter of fiscal 2024, with revenue reaching $3.5 billion, a non-GAAP gross margin of 29.3%, and non-GAAP earnings per share at $0.63. WD exceeded consensus estimates.
Quick Take: Apple’s OpenELM Small Language Model
Apple this week unveiled its OpenELM, a set of small AI language models designed to run on local devices like smartphones rather than rely on cloud-based data centers. This reflects a growing trend toward smaller, more efficient AI models that can operate on consumer devices without significant computational resources.
Quick Take: Intel FQ1 2024 Earnings Results
Intel announced solid Q1 earnings, with revenue meeting expectations and EPS exceeding guidance. The company’s results reflect a disciplined approach to cost reduction and steady progress toward long-term goals.
Research Note: Lenovo’s AMD-based AI Portfolio Update
Lenovo announced a comprehensive set of AMD-based updates to its AI infrastructure portfolio, which include GPU-rich and thermal-efficient systems designed for compute-intensive workloads in various industries, including financial services and healthcare.
The new offerings, designed in partnership with AMD, address the growing demand for compute-intensive workloads across industries, providing the flexibility and scalability required for AI deployments.
Research Note: NVIDIA Acquires Run:AI
NVIDIA announced an agreement to acquire Run:ai, a startup specializing in chip management and orchestration software based on Kubernetes. The acquisition is part of CEO Jensen Huang’s strategy to diversify Nvidia’s revenue streams from chips to software.
Research Report: Oracle Database@Azure
Oracle and Microsoft Azure recently announced Oracle@Azure, making Microsoft Azure the only cloud provider besides Oracle itself capable of running Oracle’s database services with the performance, reliability, and security of Oracle Exadata and OCI
Quick Take: Vultr Launches Global Inference Cloud
Vultr recently announced the launch of Vultr Cloud Inference, a new serverless platform aimed at transforming AI scalability and reach. The new solution facilitates AI model deployment and inference capabilities worldwide.