CLOUD INFRASTRUCTURE SOFTWARE
Amazon counts on 'grit and innovation' to meet AI surge
The AI revolution is upon us with companies around the world looking to jump headfirst into the technology made famous by ChatGPT. To satisfy their generative AI urge, firms need to secure state-of-the-art software and ramp up computing power, which quickly brings them knocking on the doors of the globe's cloud computing giants, of which Amazon's AWS is the biggest.
Hyperscalers host EkStep digital public goods, build AI bot
Tech giants Amazon Web Services (AWS) and Google Cloud are providing cloud storage and services to make the digital public goods (DPGs) created by non-profit EkStep Foundation available online. They are also collaborating to develop an AI-based virtual assistant for the foundation.
Ecom Express’ rights issue; Google Cloud chief interview
Ecom Express is planning a $170 million rights issue led by existing investors. This and more in today’s ETtech Top 5.
Google Cloud’s AI push is winning clients: Thomas Kurian
Google Cloud chief sees tech infra that govt wants to put together as an opportunity to work closely with India. He says so many Indian entrepreneurs are aspiring to build the next Google... ‘we are super supportive of it’.
IT sector: As the global interest rate cycle changes, time to shed the bias against them? 7 software stocks with upside potential of upto 32 %
In the last few days, there have been trading sessions where all of sudden IT stocks have started to do well. This is coming at a time when there is nothing positive which either companies from the sector have said or there is anything else which can be seen as signs of things changing for better. Is this an first indication that global risk on trade is back on the table. There is enough evidence to show when US interest rates are high, there is a risk off mode globally and tech stocks both in India and globally don't outperform, rather they at times under perform. As soon as there is an indication that interest rates in the US are likely to come down, the risk on trade tends to make a comeback and tech stocks start to do well globally. But incase of Indian IT stock, there is probability that this risk on trade is helpful but another factor is adjustment of valuations and finally the fact that some money is going to move toward a strong and stable balance sheet.
OFSS shares surge 11% in two days, hit record high on strong parent company results
Oracle Financial Services Software (OFSS) experienced a significant surge of 11.4% in its shares over the past two days. This rise followed strong earnings reported by its parent company, Oracle Corporation, in the United States.
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Oracle gains as cloud infrastructure business gets AI boost
If the gains hold, the company will add about $30 billion to its market valuation of $340 billion as of Tuesday market close. The shares have so far this year gained 18%.
Oracle gains as cloud infrastructure business gets AI boost
Oracle shares surged 9% on Wednesday due to high demand for its cost-effective cloud services for AI applications, potentially adding $28 billion to its $340 billion market value. The company's cloud unit aims to grow by offering affordable cloud computing and storage, competing with Google and Microsoft.
Epicor webinar: Industry experts traverse Cloud ERP tailored for the automotive sector
Vishal Raj Saini, Country Head of Epicor Software India and Indian Subcontinent, discussed 'Implementing Cloud ERP' with industry experts at a panel by The Economic Times and Epicor.
Data storage cos in a sweat over need to stay cool
Data centers in western and northern India are facing rising operational costs due to soaring temperatures. Firms like Yotta and CtrlS are using alternative cooling methods and renewable energy, while ESDS reports a 10-12% rise in power costs due to erratic grid supply. Several of these data centres are located in New Delhi, Haryana, Noida.
SAP aims to double embedded AI use cases to 100 by year-end: SAP CEO
Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships. Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships.
Hiring in tier-2 cities showing consistent growth: foundit
Tier-2 cities in India have seen consistent growth in hiring compared to metropolitan areas, with cities like Kochi, Coimbatore, and Jaipur emerging as key hiring locations. The overall hiring index shifted to 295 in May 2024, with an 11% increase in hiring compared to the previous year. Tier-2 cities are becoming increasingly attractive hubs for businesses seeking expansion opportunities and tapping into diverse talent pools for sustainable growth.
Microsoft to pay off cloud industry group to end EU antitrust complaint: report
Microsoft is close to finalizing a multimillion-euro deal with an Amazon-backed cloud lobby to resolve an antitrust complaint with the European Commission. The deal involves withdrawing the investigation request, potential payments, and agreements to not file legal complaints worldwide.
Ola is shifting its IT ops to Krutrim from AWS cloud
This comes two weeks after Ola founder Bhavish Aggarwal snapped ties with Microsoft Azure after LinkedIn deleted his post related to "pronoun illness" of western AI models. Experts, however, say that losing Ola as a customer for AWS and Microsoft is only a needle in the haystack.
India may outpace Nutanix’s global growth metrics: CEO
CEO Rajiv Ramaswami told ET in an exclusive interaction on the sidelines of the company's annual .NEXT conference in Barcelona that Nutanix sees its India growth rate outpacing its projected global metrics for Annual Recurring Revenue (ARR) and profitability.
Nvidia profits soar on demand for AI power
Nvidia said Wednesday its quarterly net profit rocketed by seven times year-on-year on demand for its chips to power artificial intelligence in data centers. The California-based company reported a net profit of $14.9 billion, while its revenue of $26 billion was almost four times what it took in during the same fiscal quarter last year.
AI-led tech craze leaves mega Indian software stocks in the dust
Unlike counterparts in the developed world and China, Indian software makers including leader Tata Consultancy Services have yet to make significant advances in generative AI. That combined with a still cloudy outlook for client spending may soon leave them looking like the tech bets of yesterday.
AWS makes Amazon Bedrock available for developers in India
Making the announcement at the AWS Summit Bengaluru, the global technology giant has piloted the service with Indian organisations such as Healthify, L&T Technology Services (LTTS), Max Life Insurance, GupShup, Fibe, Happy Fox, ShellKode and Yellow.ai.
Finelistings Technologies stock debuts with 4% premium on BSE SME platform
Finelistings Technologies IPO on BSE SME platform saw a 4% premium debut. The company offers software services, cloud-based solutions, and digital transformation expertise. With a focus on used car dealership trends, its financial performance remains strong.
Happiest Minds makes third acquisition for $8.5 million
This is the third acquisition for the Bengaluru-based IT services firm in FY25 so far with two acquisitions PureSoftware Technologies and Macmillan Learning India announced in April.
TCS chairman N Chandrasekaran says GenAI to create impact not seen or imagined
In FY24 from April 2023 to March 2024, TCS also consolidated AI and Cloud expertise with the creation of the AI.Cloud unit.
Developers spending more time firefighting issues than delivering innovation: Cisco survey
The pressure on developers to rapidly deliver new features is compounded by the constant need to assist SREs and IT operations in ensuring application performance and availability.
Microsoft hit with Spanish startups' complaint about cloud practices
The US tech giant ranks second in the cloud computing sector, behind market leader Amazon but is expected to close the gap rapidly as a clutch of generative AI features powered by OpenAI's technology attract business users.
Time to unlink size and agility: 6 not-so-large IT stocks operating in niche areas with upside potential of up to 53%
Over the years, there has been some change in how the street looks at IT stocks, but somehow, still there is a perception that large cap companies like TCS, Infy and Wipro, are the ones which give all the indication of what is happening in the IT space. But the reality has been very different. Especially in the last five years, since the time ML and cloud and other speciality segments have come in the software segment. There have been smaller companies which operate in specialized areas who have been able to show much stronger growth at a time when Infy and Wipro’s of the world are under pressure in terms of growth.
Bhavish Aggarwal's Krutrim AI launches mobile app, opens up cloud infra for businesses
Krutrim AI, an artificial intelligence (AI) startup founded by Ola Electric's Bhavish Aggarwal, has opened up its cloud for entrepreneurs and developers. Aggarwal said this will help businesses build products without depending on western cloud solutions.
Microsoft announces $2.2 bn AI, cloud investment in Malaysia
Microsoft pledged a $2.2 billion investment in artificial intelligence and cloud computing in Malaysia on Thursday to help develop the country's AI infrastructure. The pledge comes after he announced a $1.7 bn investment in Indonesia, as well as Thailand's first data centre region this week to boost cloud and artificial intelligence infrastructure.
IBM to buy HashiCorp in $6.4 billion deal to expand in cloud
IBM's $6.4B acquisition of HashiCorp bolsters its AI presence through cloud expansion, despite Q1 revenue missing estimates. The deal, funded by cash, aligns with IBM's strategic focus on AI and cloud technologies.
HCLTech announces alliance with Google Cloud to scale Gemini to global cos
HCLTech and Google Cloud collaborate to train 25,000 engineers on GenAI using Gemini AI model. The alliance focuses on manufacturing, healthcare, and telecom sectors. CEO confident about GenAI solutions for accelerated software project delivery.
TCS signs multi-million cloud transformation deal with Denmark’s Nuuday
TCS, the IT services arm of the Tata group, will host and manage all IT domain services of Nuuday during the transformation. This cloud transformation will enable faster and easier adoption of next-gen technologies.
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