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AI drives a cloud resurgence, but it’s costing a lot
- Generative artificial intelligence is driving a resurgence in cloud spending, as earnings results from Amazon Web Services and Google this week both saw upside from forecasts.
- Spending to keep up with AI demand continues to be expensive.
- Money keeps pouring into AI companies such as Elon Musk’s xAI and Bret Taylor’s AI agent startup Sierra Technologies.
- New AI models and services keep getting churned out from OpenAI, Apple, Google, Meta, Amazon, Salesforce and everyone else you can think of, with no slowdown in sight.
- Intel got a rare boost by reporting a more positive quarter and outlook than expected and its stock rose 10%.
- Indeed, next week is another big week for earnings reports.
- One reality, noted Jordan Tigani, co-founder and CEO of MotherDuck, which makes a cloud analytics database, is that “AI people and database people tend not to like each other very much.
- At Constellation Research’s CCE 2024 conference, the firm’s analysts weighed in on the next impacts of AI.
- AI adviser Cassie Kozyrkov had the quote of the week, on the difference between machine learning and AI: “If it’s written in Python, it’s probably machine learning. If it’s in a PowerPoint, it’s AI.”
- Matt Wood, Amazon’s high-profile former vice president of artificial intelligence, is now PricewaterhouseCoopers’ first commercial technology and innovation officer.
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