Cisco Buys Machine Learning Data Specialist Splunk for $28 Billion

Machine data analytics specialist Splunk shares jumped more than 21% in pre-market trading Thursday, after Cisco Systems Inc. agreed to buy Splunk Inc. for $157 a share in cash in a deal valued at about $28 billion. The price is a 31% premium to Splunk’s previous closing price on Wednesday. The deal value represents around 10% of Cisco’s market value. The deal is CSCO’s biggest acquisition ever and a massive push into software and artificial intelligence-powered data analysis. The SPLK … Continue reading “Cisco Buys Machine Learning Data Specialist Splunk for $28 Billion”

How to Value SoftBank’s Semiconductor Arm IPO Among the NVidia and AI Frenzy

The much-anticipated IPO for SoftBank Group Corp. semiconductor unit Arm was filed Monday. With the AI frenzy Softbank is looking to time the listing to perfection. In what has been a rather dour few years for IPOs with high interest rates and a bear market for much of that period this is expected to be the year’s largest US initial public offering. Arm Holdings Ltd. didn’t disclose proposed terms in its filing Monday with the US Securities and Exchange Commission. … Continue reading “How to Value SoftBank’s Semiconductor Arm IPO Among the NVidia and AI Frenzy”

DoubleVerify Stock 14% Lower After Second Quarter Earnings and Scibids Acquistion Deal

Ad verification company DoubleVerify (NYSE: DV) announced Tuesday after the market close better than expected second quarter earnings and that it has entered into an agreement to acquire French AI-powered adtech firm Scibids Technology sas in a cash and stock deal valued at $125 million. Scibids builds AI that automates and optimizes an advertiser’s programmatic buying of digital ad campaigns. DV second quarterly earnings were $0.07 per share, which beat the consensus of $0.06. DV reported quarterly sales of $133.74 … Continue reading “DoubleVerify Stock 14% Lower After Second Quarter Earnings and Scibids Acquistion Deal”

Ad Verification Specialist DoubleVerify to Acquire French AI Firm Scibids

Ad verification company DoubleVerify announced along with it’s second quarter earnings it has entered into an agreement to acquire French AI-powered adtech firm Scibids Technology sas in a cash and stock deal valued at $125 million. The move follows the partnership formed in June this year to launch the “DoubleVerify Algorithmic Optimizer.” Scibids’ AI algorithm were matched with DoubleVerify’s media quality and ad performance data to optimize advertising campaigns. The deal is a natural progression from the partnership. DoubleVerify enables … Continue reading “Ad Verification Specialist DoubleVerify to Acquire French AI Firm Scibids”

Nvidia Crushes Earnings and Guidance Acceleration with AI and Data Center Growth

NVidia trounced analysts with spectacular earnings and guidance for the April fiscal quarter of 2023 establishing itself as the leader in the emergence of AI technology. Nvidia fulfills the insatiable market needs of generative AI and accelerated computing. NVDA shares have been running hot with the generative artificial intelligence boom that started with the launch of OpenAI’s ChatGPT back in November. Even with that NVDA projected $11 billion in sales for the quarter ending in July, shocking analysts who had … Continue reading “Nvidia Crushes Earnings and Guidance Acceleration with AI and Data Center Growth”

Nvidia Earnings Beat with Rebound in Gaming, Sees Acceleration of AI and Data Center Growth

NVidia announced better than expected earnings and guidance for the January fiscal quarter of 2023 with sales and earnings beating analyst expectations. $NVDA shares jumped +29.10 or +14.02% on the results which also gave some hope to the beaten down semiconductor sector. Nvidia’s superior growth prospects are tied to the substantial investments it made in AI-powered technology over the past several years. CEO Jensen Huang commented that AI adoption is at an inflection point as the company prepares to launch … Continue reading “Nvidia Earnings Beat with Rebound in Gaming, Sees Acceleration of AI and Data Center Growth”

C3.ai Beat Analysts Revenue Targets but AI Cash Burn Rate Worries Remain

Artificial intelligence software company C3.ai beat analyst expectations for the Q2 fiscal FY2023 quarter, with revenue up 7% year-over-year to $62.41 million. However, AI is still running with large losses and its growth has stagnated. For Q2 2023, bookings were down 14% y/y. while bulls cite the large amount of cash on hand it is the burn rate that is of concern and explains much of why the stock is down over 90% from its highs. AI stock traded at … Continue reading “C3.ai Beat Analysts Revenue Targets but AI Cash Burn Rate Worries Remain”

Nvidia Overcomes AI Chip Restrictions in China with Strong Data Center Growth

NVidia announced mixed earnings for the October fiscal quarter of 2023 with sales beating analyst expectations but earnings per share lower than forecast. Nvidia said it expected $6 billion in sales in the fourth quarter, lower than consensus estimates of $6.09 billion $NVDA Shares got relief from Gaming beating expectations and Data Center revenue $3.83 billion, up 31% year-over-year. Nvidia said reduced sales from the GPUs banned in China would be largely offset by its alternative products like Automotive. AI … Continue reading “Nvidia Overcomes AI Chip Restrictions in China with Strong Data Center Growth”

Nvidia Launches DRIVE Thor Autonomous and Assisted Driving Platform

Chip maker Nvidia has been aggressively developing its key growth automotive business segment enhancing its artificial intelligence (AI) market capabilities. NVDA on Tuesday unveiled its new computing platform called DRIVE Thor to centralize autonomous and assisted driving. The platform has other digital functions including in-car entertainment which will bring down the ultimate cost. Nvidia’s head of automotive business Danny Shapiro said DRIVE Thor would be able to replace numerous chips and cables in the car and bring down the overall … Continue reading “Nvidia Launches DRIVE Thor Autonomous and Assisted Driving Platform”

Artificial Intelligence Software Company C3.ai Stock AI Falls 15% After Misses Earnings, Slashes Guidance

Artificial intelligence software company C3.ai missed analyst expectations in Q1 FY2023 quarter, with revenue up 24.6% year on year to $65.3 million. Guidance for the next quarter also missed analyst expectations with revenues guided to $61 million at the midpoint, or 14.9% below analyst estimates. C3.ai made a GAAP loss of $71.8 million, down on its loss of $37.4 million, in the same quarter last year. AI stock traded at 15.20 down $2.80 or 15.56% After Hours C3.ai Q1 2023 … Continue reading “Artificial Intelligence Software Company C3.ai Stock AI Falls 15% After Misses Earnings, Slashes Guidance”