Databricks secured $5 billion in a strategic funding round, raising its valuation to $190 billion from $134 billion earlier this year. The funds will support development of its AI-focused products like the serverless Postgres database Lakebase, AI coworker Genie, and AI governance tool Unity AI Gateway. The company reported an $7 billion revenue run-rate and 80% year-over-year growth in Q2, highlighting strong market demand for its AI solutions. Databricks also expanded its partnership with Microsoft to scale enterprise AI through the 2030s, signaling continued investment in AI innovation and acquisitions.
The Vanguard Information Technology ETF (VGT) excludes major tech-adjacent companies like Alphabet (Google), Meta, and Amazon due to a 2018 sector reclassification that moved these firms out of the Information Technology sector. Instead, VGT focuses ...
Leading US AI companies like Google, Microsoft, Meta, Oracle, and Amazon are driving economic growth with heavy capital spending. However, their rapid investment and financial moves, including Alphabet's $80 billion equity raise and unclear AI spendi...
In July, President Donald Trump disclosed 1,156 securities transactions totaling between $79 million and $270 million. The largest trades included sales of Microsoft and Amazon shares worth between $5 million and $25 million each on July 20. This act...
Steve Eisman, known for predicting the subprime crisis, warned that 70% of AI revenue among major cloud providers comes from just two companies, OpenAI and Anthropic, with OpenAI potentially facing trouble. This concentration risk raises concerns abo...
IREN has secured over 5 gigawatts of power capacity with major contracts totaling $13.1 billion from Microsoft and NVIDIA, positioning it as a key player in AI infrastructure. Despite this, the company reported a $684 million net loss in Q4 with reve...
