Main topic: The potential winners in the platform shift to AI and the value creation it will bring.
Key points:
1. Platform shifts, such as the shift from on-prem computing to SaaS and cloud, are positive-sum games that create value for both startups and incumbents.
2. The shift to AI is expected to be even bigger than the shift to SaaS, with the potential for trillions of dollars in value creation.
3. The emergence of a new infrastructure layer in AI, similar to the rise of cloud computing platforms, may produce the biggest winners in the market.
Main topic: Index Ventures' partnership with Oracle to provide GPUs to its portfolio companies.
Key points:
1. Access to compute power, particularly GPUs, is a major challenge for AI startups.
2. Index Ventures has partnered with Oracle to ensure its portfolio companies have access to GPUs.
3. The goal is to help early-stage companies overcome the barrier of access and accelerate their development.
Hint on Elon Musk: Elon Musk is not mentioned or related to the main topic and key points provided in the given text.
Oracle stock jumped 3% after UBS analyst Karl Keirstead upgraded the rating, citing the company's potential in both cloud business and artificial intelligence.
Oracle's quarterly results are expected to highlight the company's still-under-the-radar artificial intelligence capabilities.
Oracle is set to release its earnings, and the focus will be on its success in the artificial intelligence sector.
As the cloud market continues to grow, some customers are questioning the cost and value of cloud-based infrastructure services, with concerns over hidden expenses, management challenges, and a lack of expected cost savings. Additionally, the rise of AI and the need for infrastructure for AI model training has shifted investment priorities away from server fleets and other projects.
Despite macro uncertainty, Oracle is experiencing high demand for its cloud services, particularly its AI services, which are expected to drive revenue growth in Q1 FY24, according to analysts.
Oracle reported impressive Q1 earnings, with Non-GAAP EPS of $1.19, beating expectations, although revenue of $12.45B missed by $20M; cloud services revenue grew 30% to $4.6 billion and now accounts for 77% of Oracle's total revenue.
Oracle exceeded earnings estimates for its fiscal first quarter, but its sales were in line with expectations, causing a 9.2% drop in Oracle stock during after-hours trading.
Oracle's stock is facing a decline, but now is a good time to invest in its AI potential.
Oracle disappointed stock markets with slightly less than expected revenue for Q1 of 2024, while CTO Larry Ellison hinted at a closer partnership with Microsoft's Azure cloud platform.
Shares of Oracle Corp. are set to suffer their worst one-day performance in 21 years after the software and cloud services company reported disappointing earnings and provided a downbeat outlook for the next quarter.
Oracle stock dropped by 13% after its earnings fell short of AI expectations, with slower cloud sales growth and lower guidance contributing to the disappointment on Wall Street.
Investor fear is causing tech stocks like Oracle and Apple to drop, according to CNBC's Jim Cramer, who believes the selling is unwarranted given the lack of clear negatives and recommends investors to tap into Oracle before it starts its "mammoth buyback."
Small and medium businesses adopting AI and cloud computing technologies are expected to drive significant gains in productivity and economic output in sectors such as healthcare, education, and agriculture, with projected benefits of $79.8 billion by 2030 in the US and $161 billion globally.
Oracle reaffirms its projection of achieving $65 billion in revenue by 2026 and signs a $1.5 billion AI contract with a cloud provider.
Oracle Corp has prepaid $104.1 million for processor chips from startup Ampere Computing and invested $400 million in the company, aiming to give its cloud a competitive advantage over rivals.
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