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Amazon Web Services, Microsoft and NVIDIA will provide AI tech to Pentagon
Amazon Web Services, Microsoft and NVIDIA will provide AI tech to Pentagon You can add Amazon Web Services, Microsoft and NVIDIA to the growing list of tech giants that have decided to give the US Defense Department access to their AI tools. According to Bloomberg, the three companies — alongside a forth, Reflection AI — have signed agreements granting the Pentagon use of their AI technologies "for lawful operational use" on classified military networks. "These agreements accelerate the...
Pinterest deepens Amazon partnership with $4 billion cloud deal
Pinterest deepens Amazon partnership with $4 billion cloud deal June 4 : Pinterest said on Thursday it would pay Amazon Web Services $4 billion for cloud services through 2031, as the social media company strengthens a long-term partnership with its largest-ever deal. Shares of Pinterest were up nearly 5 per cent, while those of Amazon rose 1.7 per cent. Amazon.com's cloud computing unit will provide Pinterest its custom chip processors, including Graviton and Trainium, to help scale its AI...
Amazon engineers in Seattle slam employer for building AI data centers while laying off 30,000 staffers
A group of Amazon engineers appeared at Seattle City Council hearings on Wednesday to throw their support behind efforts to regulate the development of giant AI data centers in the area, which are getting constructed while their employer is engaged in mass layoffs. "It's been reported that this year, Amazon is spending $200 billion dollars on capital, with most of it going to data centers and AI," Patrick Schloesser, a software engineer at Amazon Web Services, said at a hearing. "Microsoft...
AWS CEO to CEOs 'screaming' AI will wipe away jobs: I don't think that's all true
Amazon Web Services (AWS) CEO Matt Garman has pushed back heavily against fellow tech executives who warn that artificial intelligence (AI) is going to trigger a Great Depression-style wave of mass unemployment. Instead, he said that there will be different kinds of jobs, and that workers will have to adapt and even learn new skills. Addressing the growing anxiety sweeping the corporate and tech worlds, Garman made it clear that he refuses to join the camp of critics predicting an economic...
Amazon accused of 'systematic tax avoidance' after release of UK documents
Amazon accused of 'systematic tax avoidance' after release of UK documents Accounts for one of online giant Amazon's biggest UK companies show it paid no corporation tax last year despite profits jumping by a quarter Online giant Amazon has been accused by critics of “systematic tax avoidance” after the release of documents on its vast dealings in the UK. The multinational founded by billionaire Jeff Bezos has previously disclosed it generated sales of around £32billion in the UK last year....
Why AI hyperscalers are now the epicenter of a bear case for stocks
If the facts change, then I have to change. I learned that from reading the legendary British economist John Maynard Keynes, and it has never steered me wrong. I was a huge bull on this market because of the terrific things happening in artificial intelligence.
Corning shares jump 9% after striking deal to power Amazon AI data centers in U.S.
Amazon is paying Corning billions of dollars for optical fiber to power and connect its rapidly expanding U.S. data centers, the latest megadeal featuring two companies at the center of the artificial intelligence boom. The agreement, announced Monday, will play out over several years and create 1,000 jobs at Corning's North Carolina factories, the companies said. Corning's fiber optic cable and networking solutions are becoming essential elements of AI infrastructure because they enable...
Musk's Starlink leads Bezos' Amazon as airlines rush to boost in-flight Wi-Fi
Musk's Starlink leads Bezos' Amazon as airlines rush to boost in-flight Wi-Fi RIO DE JANEIRO, June 9 : Global airlines' push to attract premium customers is making fast in-flight Wi-Fi an increasingly important perk, turning a once-patchy paid service into an emerging battleground between Elon Musk's Starlink and Jeff Bezos' Amazon Leo satellite network. Starlink, which operates around two-thirds of all satellites in space and is the major driver of revenue for SpaceX, has signed up 11 new...
3 themes that drove stocks to another week of records — and a banner month
Stocks soared to record highs again last week, capping off a banner month for the market. Investor optimism about an end to the Iran-U.S. war, a string of positive corporate earnings reports, and strength in technology stocks led to new records for the S & P 500 and Nasdaq Composite , up over 1% and more than 2%, respectively, during the holiday-shortened trading week. That brought the weekly winning streak for the S & P 500 to nine, while the Nasdaq has been up eight out of the past nine weeks.