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The Saaspocalypse may have claimed another scalp! Adobe said Thursday its longtime CEO and chair, Shantanu Narayen, had decided to give up the job as soon as his replacement can be found. Less than two months ago, Adobe had given Narayen an annual grant of stock, to vest based on the company's stock performance 2028, suggesting the board wasn’t expecting the CEO to leave anytime soon. Perhaps...
Nscale, an upstart cloud provider heavily backed by Nvidia whose customers include OpenAI and Microsoft, is in talks to take control of one of the largest available sites for AI data centers in the U.S., according to people with knowledge of the talks and fundraising documents viewed by The Information.
A deal to buy the site, located in West Virginia, would make the young U.K.-based cloud...
Google completed its $32 billion purchase of Wiz this week, finalizing a real windfall for those who invested in the cybersecurity startup. But even the tech investors who missed out on backing Wiz stand to benefit.After many years of regulatory challenges from the U.S. and abroad, the ability for a big tech company to complete a mega deal flashes a green light for others to follow.
BuzzFeed is “exploring strategic options” to close the gap between its roughly $26 million market capitalization and what executives see as the value of the digital media firm’s assets, the company said Thursday. BuzzFeed shares fell 10% in after-hours trading. BuzzFeed CFO Matt Omer said in a ...
Adobe announced that Shantanu Narayen is planning to step down as CEO after 18 years as soon as the company finds his successor, although he’ll stay on as board chair. It’s the latest example of software firms shaking up their leadership as they deal with the threat posed by artificial ...
Investors’ fears that AI could dampen spending on traditional business applications have wreaked havoc on the shares of companies like Salesforce, ServiceNow and Workday. But Oracle executives this week cited how businesses can use Oracle’s AI tools as evidence that Oracle is immune to the so-called Saaspocalpyse. On an earnings call earlier this week, executive chair and CTO Larry Ellison said...
PayPay shares rose nearly 20% in the Japanese mobile payment app’s debut in the U.S. stock market Thursday, before closing with a 13% gain and market cap of $12 billion. The company raised almost $880 million in the IPO, including shares sold by investor SoftBank, making it the biggest ...
Elon Musk’s xAI is hiring two senior Cursor leaders as part of an effort to catch up with AI rivals in coding, according to a person with direct knowledge of the move. The pair, Andrew Milich and Jason Ginsberg, will both report to Musk, the person said.
The move follows a string of high-level departures at xAI, including the majority of its co-founders, and comes as Musk says the company’s Grok...
Zihang Dai, a co-founder of xAI, has left Elon Musk’s artificial intelligence firm, Business Insider reported on Thursday, the latest in a string of high-profile exits this year. Another co-founder, Guodong Zhang, is also planning to leave, the report said. After both reported departures, xAI ...
Microsoft Executive Vice President Rajesh Jha, who oversees the business unit that includes Windows, Office, and Microsoft’s Surface devices, will retire July 1, he said in a memo to staff Thursday. Jha has spent more than 35 years at Microsoft, including two decades at the helm of the company’s ...