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AI agents are on the march, but will they justify the endless big spending on AI?
- Agentic artificial intelligence, the notion of AI agents that can semiautonomously conduct a series of tasks without much human involvement, is gaining momentum.
- Despite worries that AI and big-data spending is getting out of hand, investments continued this week with xAI seeking to raise $6 billion, CoreWeave landing a big slug from Cisco, and Writer reeling in $200 million more.
- AI and big data were unsurprisingly the big topics at KubeCon + CloudNativeCon conference in Salt Lake City; next week, the earnings kahuna is Nvidia, the most valuable public company in the world.
- This week we saw the deployment of new services from Google and Red Hat, but AI experts are cautioning that agentic AI is still largely in its hype cycle.
- Advanced Micro Devices plans to cut 4% of its staff to double down on AI, while Cisco Systems is still struggling to restore revenue growth despite its early AI progress.
- The FBI has raided the home of the CEO of Polymarket as part of an investigation into allegations that it illegally allowed US citizens to participate in betting.
- The Federal Trade Commission is reportedly looking into potential anticompetitive behavior by Microsoft's cloud practices, although it is unclear how the new presidential administration will handle the case.
- This week, data software companies including Snowflake, NetApp, and Elastic all reported their earnings.
- In terms of personnel announcements, OpenAI's co-founder Greg Brockman returned to the company, while AI developer Francois Chollet left Google to start his own company.
- There's also new industry leadership, as Bill Robbins takes on president of Menlo Security and Tony Alika Owens becomes CEO of lakehouse customer data platform Amperity.
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