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Amazon’s online store sales dip below 40% of net sales for first time, and other earnings notes

GeekWire

The chart below is what Amazon’s net sales look like in raw numbers over the past several years, broken down into the major business segments reported by the Seattle-based company. Here are the same results, expressed as a percentage of net sales. Amazon Web Services posted revenue of $22.1

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Amazon’s cloud business and AI initiatives in the spotlight in advance of earnings report

GeekWire

Wall Street analysts expect the company to report net sales (revenue) of $131.5 In its prior guidance for the second quarter, Amazon said it expected net sales between $127 billion and $133 billion; and operating income between $2 billion and $5.5 Amazon Web Services revenue growth declined to 15.8% billion, up 8.5%

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Amazon pours up to $4B into AI startup Anthropic, escalating rivalry with Microsoft and Google

GeekWire

The investment and expanded partnership includes a commitment by Anthropic to make Amazon Web Services its main cloud provider. Its founders include siblings Dario Amodei and Daniela Amodei, who led OpenAI’s engineering and policy/safety teams, respectively. billion purchase of Whole Foods in 2017 and its $8.5 ”

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Amazon stock jumps 7% after Q2 earnings beat estimates with $134.4B in revenue

GeekWire

Net income was $0.65 Microsoft and Google both posted strong cloud results in their earnings reports last week, benefitting in part from early interest in infrastructure and services to help corporate customers develop generative AI applications. Amazon Web Services: Amazon’s cloud business was up 12% at $22.1

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Generative AI hackathon in Seattle encourages entrepreneurs to tinker with ‘magic wand’

GeekWire

.” Generative AI is taking the tech world by storm and has already developed to the point that a full stack ecosystem exists, allowing for the rapid prototyping and development of a new generation of applications and innovations. Change is hard for people but ultimately, it nets out.”

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Inside Nasdaq’s AI-fueled pivot to SaaS provider

CIO Business Intelligence

Nasdaq is currently using gen AI for a range of applications, including supporting digital investigators’ efforts to identify financial crime risk and empowering corporate boards to consume presentations and disclosures more efficiently. The company, which reported net revenues of $3.6

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Cloud startup Snowflake reveals financials in IPO filing as it battles Amazon, Microsoft, others

GeekWire

-based company said it more than doubled revenue to $242 million in the first half of 2020, with a net loss of $171.3 Snowflake’s data warehouse is a specialized type of cloud database built for analytical applications. All three competitors offer their own data warehousing service. million, down from $177 million in 2019.