Amazon Has Strong Q2, Earnings Helped by Cloud, Ad Sales

Amazon posted its third consecutive $100 billion quarter during Q2 this year; revenue grew 27 percent year-over-year to $113.08 billion. Refinitiv revealed earnings of $15.12 versus $12.30 per share, and revenue of $113.08 billion versus $115.2 billion. However, Amazon predicts slightly slower growth for the upcoming quarters. In Q3, the company estimates its operating profit would land somewhere between $2.5 billion and $6 billion. According to chief financial officer Brian Olsavsky, “most of Amazon’s 2021 spend and building openings are planned for the second-half of the year.” Continue reading Amazon Has Strong Q2, Earnings Helped by Cloud, Ad Sales

Multi-Cloud Strategy Over a Single Provider Gains Momentum

Amazon and Microsoft dominate cloud computing but more businesses are leveraging smaller cloud rivals such as Google, Oracle and IBM. Experian, for example, launched with Amazon Web Services (AWS) in 2014, but is now using Microsoft, Google and Oracle, according to Experian global chief enterprise architect Mervyn Lally. At Oracle Cloud Infrastructure, executive vice president Clay Magouyrk said that more customers “adopt a multi-cloud strategy simply because some workloads run better or more cost-effectively on different clouds.” Continue reading Multi-Cloud Strategy Over a Single Provider Gains Momentum

Jeff Bezos Steps Down, Andy Jassy Is the New Amazon Boss

Amazon founder Jeff Bezos is stepping down as chief executive of the e-commerce and tech giant, elevating Andy Jassy, former head of the company’s web division, to the CEO position, making it one of the most high-profile executive swaps in years. But behind the scenes, more change has roiled the company with numerous executives departing in the last 18 months, many after working there for years. That’s unusual because many of Amazon’s top staffers started with the company in its earliest days, became wealthy via stock, and were considered loyal lifers. Continue reading Jeff Bezos Steps Down, Andy Jassy Is the New Amazon Boss

Amazon’s Profits, Income, Stock Price Skyrocket During 2020

For Q1 2021, Amazon reported record profits of $26 billion, more than the previous three quarters combined, with net income more than tripling to $8.1 billion and revenue of $108 billion, surpassing FactSet’s analyst predictions. In addition to Amazon’s successful quarter, Apple, Facebook, Google and Microsoft all enjoyed major upticks in profits and revenues, the result of the increased need for their products and services during the COVID-19 pandemic. Amazon expects that its Q2 sales will reach between $110 billion and $116 billion. Continue reading Amazon’s Profits, Income, Stock Price Skyrocket During 2020

Facebook’s Red Team X Finds Bugs in Third Party Products

Facebook’s Red Team is tasked with spotting vulnerabilities on the platform before hackers do. Many tech companies have similar red teams but, at Facebook, Red Team manage Nat Hirsch and his colleague Vlad Ionescu saw an opportunity to do more after COVID-19 hit. Established last spring and headed by Ionescu, Facebook’s Red Team X both works independently with its internal, original Red Team and looks into weaknesses of third-party products that represent a potential threat to its own platform. Continue reading Facebook’s Red Team X Finds Bugs in Third Party Products

Amazon’s Jeff Bezos Steps Down After 26 Years at the Helm

Amazon chief executive Jeff Bezos is stepping down from the role he has held since he started the Big Tech company 26 years ago and will assume the role of executive chairman. Amazon Web Services head Andy Jassy will replace Bezos as Amazon’s new chief executive. Bezos hands over the reins during a time in which COVID-19 has helped the company achieve record-breaking sales, while it also faces regulatory and legal investigations. Personally, he vies with Tesla chief executive Elon Musk as the world’s wealthiest person. Continue reading Amazon’s Jeff Bezos Steps Down After 26 Years at the Helm

Chipmakers Intel, Nvidia Now Compete with Their Customers

Companies such as Intel and Nvidia have long dominated the design and manufacture of semiconductor chips, but they are now facing competition from their own customers. Amazon, Google and Microsoft, all of which have seen strong growth in cloud computing, are looking to create their own chips to ensure better performance and lower costs. Amazon, for example, debuted a chip intended to speed up AI algorithms. Traditional chip manufacturers are creating specialized processors to retain their long-time customers. Continue reading Chipmakers Intel, Nvidia Now Compete with Their Customers

Amazon Commits to Train Millions Worldwide in Cloud Skills

As the COVID-19 pandemic continues to dramatically change the work landscape, Amazon plans to retrain 29 million people globally in cloud-computing skills by 2025. In addition to building on existing programs, Amazon will invest in new ones by teaming with schools, nonprofits and other organizations. Last year, Amazon earmarked $700 million to retrain 100,000 of its own workers. Some of those trained in the new programs may find employment at Amazon or in other companies that use Amazon Web Services. Continue reading Amazon Commits to Train Millions Worldwide in Cloud Skills

With Spinoff, IBM Aims to Lead In Corporate Cloud Services

To accelerate its shift to cloud computing, IBM revealed it is breaking out its IT unit to focus on that and artificial intelligence. Chief executive Arvind Krishna called it a “landmark day” for the 109-year old company. IBM’s move acknowledges the powerful shift to the cloud, with almost all new software created as cloud services delivered online from remote data centers. Amazon pioneered the cloud market by launching Amazon Web Services in 2006, and IBM is a latecomer but has made significant moves in recent years. Continue reading With Spinoff, IBM Aims to Lead In Corporate Cloud Services

Amazon Hires, Builds and Grows During the COVID Pandemic

In August and September, Amazon revealed plans to hire 20,000 more employees in seven cities in the U.S. and the UK. The massive e-commerce company has seen tremendous growth during the coronavirus pandemic as have other retailers including Walmart, Target and Instacart. Amazon, which continues to allow employees who can work from home to do so until January 8, is continually recruiting hourly positions at warehouses. Although it pays a minimum of $15 an hour, Amazon no longer provides incentive pay or stock for hourly workers. Continue reading Amazon Hires, Builds and Grows During the COVID Pandemic

Google Developing New Cloud Services During the Pandemic

According to Google Cloud chief executive Thomas Kurian, the coronavirus pandemic has had an impact on the development of new cloud features. “Every week, there’s a new set of dimensions, and we have to adapt, keep people positive, and focus through it,” he said. A new security product that encrypts data while it’s being processed, for example, is aimed at luring businesses in highly regulated industries to adopt cloud services. Another cloud-computing product is Assured Workloads for Government, a new way to secure public sector deals. Continue reading Google Developing New Cloud Services During the Pandemic

Pinterest Adds Today Tab for Topics, Shop Tab for Products

Pinterest, the website and mobile app that describes itself as a “visual discovery engine,” showcased “Today,” a tab on the user’s Pinterest home page that features topics and ideas curated by Pinterest staff and trending pins selected by algorithms. “Today” is a response to changing customer behavior during the coronavirus pandemic. The platform’s global monthly active users reached 367+ million, up from about 300 million last September. During the last few months, searches and boards have both leapt up 60 percent compared to last year. Continue reading Pinterest Adds Today Tab for Topics, Shop Tab for Products

AWS Intros AI Tool to Add Human Reviewers to ML Workflow

Amazon Web Services unveiled Amazon Augmented Artificial Intelligence (A2I), a fully managed service that makes it easy for developers to build workflows that use human reviewers to validate machine learning predictions. Human reviewers can be added via Mechanical Turk, third-party vendors or the developer’s own employees. The developer can also use Amazon A2I to structure the review process and manage the human reviewers. Users do not need to commit to use Amazon A2I, but instead pay only for each review needed. Continue reading AWS Intros AI Tool to Add Human Reviewers to ML Workflow

Chip Sales Surge as Screen Time Increases During Pandemic

As a result of the global shutdown, personal and business Internet usage is way up. SimilarWeb reported that users spent an additional 5 billion hours of screen time in March — a 13 percent leap over February — on the 100 most popular sites, including Facebook and Google. Likewise, Amazon, Netflix and YouTube are thriving. That’s led to a surge in demand for chipsets. Micron Technology chief executive Sanjay Mehrotra said his company is shifting production of its chips away from smartphones and towards data-center products. Continue reading Chip Sales Surge as Screen Time Increases During Pandemic

Microsoft and NBA Sign Multiyear Deal for AI, Cloud Services

Microsoft and the National Basketball Association have inked a multiyear deal to build a consumer-facing digital platform to debut with the 2020-2021 season. The NBA will utilize the tech company’s Azure cloud computing and artificial intelligence capabilities to customize games and experiences. The deal’s terms were not revealed, but it covers all NBA properties including the Women’s National Basketball Association and USA Basketball. To win the deal, Microsoft bested cloud competitors Amazon and Google. Continue reading Microsoft and NBA Sign Multiyear Deal for AI, Cloud Services