Verdict

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Snowflake to buy Crunchy Data for enhanced Postgres solutions

4 days ago | verdict.co.uk | Kuldeep Jha

AI Data Cloud company Snowflake has disclosed plans to acquire Crunchy Data, a developer of cloud-based database software. The company did not disclose details of the deal, but CNBC, citing sources familiar with the matter, reported that it could be valued at approximately $250m. The acquisition will introduce Snowflake Postgres, an AI-ready, enterprise-grade, and developer-friendly PostgreSQL database to Snowflake’s AI Data Cloud.
Applied Digital signs $7bn lease with CoreWeave

4 days ago | verdict.co.uk | Kuldeep Jha

Applied Digital, a developer of digital infrastructure for high-performance computing (HPC) applications, has signed two approximately 15-year lease agreements with AI cloud-computing startup CoreWeave. Under the agreements, Applied Digital will provide 250MW of critical IT load to support CoreWeave’s AI and HPC infrastructure at its Ellendale, North Dakota data centre campus. The company expects to generate approximately $7bn in total revenue over the lease terms.
LinkedIn slashes 281 jobs across California in US

5 days ago | verdict.co.uk | Kuldeep Jha

LinkedIn, the Microsoft-owned professional networking platform, has laid off 281 employees across California, according to a WARN document filed with local authorities. The job cuts affect various roles, including engineers, and span multiple locations. It included 159 positions in Mountain View, 60 in San Francisco, 23 in Sunnyvale, 11 in Carpinteria, and 28 remote workers based in the state. The layoffs are part of workforce reductions at Microsoft, LinkedIn’s parent company.
Microsoft’s Russian subsidiary to file for bankruptcy

5 days ago | verdict.co.uk | Kuldeep Jha

Microsoft Rus, a subsidiary of Microsoft Corp in Russia, is reportedly set to file for bankruptcy, Reuters reported citing a note published on the official Fedresurs registry. Microsoft did not immediately respond to a request for comment, reported Reuters. Russian President Vladimir Putin has previously stated that foreign service providers, such as Microsoft and Zoom, acting against Russian interests should be “throttled”.
CloudZero raises $56m to enhance cloud cost efficiency solutions

5 days ago | verdict.co.uk | Kuldeep Jha

CloudZero, a provider of cloud cost efficiency solutions, has raised $56m in a Series C funding round after achieving triple-digit growth for another year. The round was led by BlueCrest Capital Management and Innovius Capital, with participation from Matrix Partners, Threshold Ventures, Underscore VC, G20 Ventures, and a strategic investment from MongoDB.
Anduril, Meta collaborate to develop XR solutions for US Military

1 week ago | verdict.co.uk | Kuldeep Jha

Anduril Industries has collaborated with Meta to develop a suite of integrated extended reality (XR) products designed to enhance operational capabilities for the US military. The collaboration will focus on providing soldiers with improved perception and intuitive control of autonomous platforms, leveraging over a decade of investment by both companies in advanced hardware, software, and AI, according to Anduril.
Autonomous vehicles: How China is leading mining’s next economic driving force

1 week ago | verdict.co.uk | Fi Forrest

In an early indication of the country’s steely focus on automation advancements, China’s National Development and Reform Commission, the Ministry of Industry and Information Technology, and 11 other ministries and commissions jointly issued a strategy that prioritised the technology in 2020.
Capgemini, Mistral AI and SAP partner on AI for regulated sectors

1 week ago | verdict.co.uk | Shivam Mishra

Technology companies Capgemini, Mistral AI and SAP have joined forces to offer an array of artificial intelligence (AI) models for the regulated industry. Capgemini said the collaboration aims to establish a “trusted and secure” framework for deploying bespoke AI solutions within SAP environments, with a focus on industries that face stringent data requirements, including financial services, the public sector, aerospace and defence, and energy and utilities.
OpenAI to establish office in South Korea

1 week ago | verdict.co.uk | Shivam Mishra

OpenAI, the company behind ChatGPT, has announced plans to launch operations in South Korea, as part of its global AI infrastructure expansion. According to Yonhap, Jason Kwon, OpenAI’s chief strategy officer, announced that OpenAI has set up a South Korean subsidiary and intends to launch its inaugural office in Seoul.
Uncertainty: worse than tariffs, better than decoupling

2 weeks ago | verdict.co.uk | Eugenia Perozo

Last week, over 5,000 delegates gathered in a sprawling convention centre just outside Washington DC to answer one question: is the US still the most attractive foreign direct investment (FDI) destination in the world? The SelectUSA Investment Summit, established in 2007, is the US’s most important event to promote FDI. It gathers international businesses, industry leaders, economic development organisations and representatives from all US states.