Mike Wheatley
Latest from Mike Wheatley
Dell’s stock falls on weak guidance, as more customers hold off for next-gen AI servers
Weak guidance sent Dell Technologies Inc.‘s shares into a tailspin today, as the stock fell more than 10% in extended trading. The company is forecasting lower server sales, and blamed the shortfall on enterprise customers that are waiting to snap up new systems powered by Nvidia Corp.’s next-generation Blackwell graphics processing unit chips and therefore ...
Intel’s CHIPS Act funding set to be cut by the Biden administration, reports say
The outgoing Biden administration is reportedly going to cut downn the preliminary $8.5 million grant it awarded to Intel Corp. under the CHIPS Act, adding to the struggling U.S. chipmaker’s woes. Intel, which is set to become the main beneficiary of the billions of dollars in grants earmarked for chipmakers under the CHIPS Act, is ...
Nvidia’s new music generation model Fugatto creates ‘never before heard sounds’
Nvidia Corp. today joined the likes of Meta Platforms Inc., OpenAI and Runway AI Inc. in releasing a generative artificial intelligence model that’s designed to create “new” music and audio from human language prompts. According to the chipmaker, the new model, called Fugatto (for Foundational Generative Audio Transformer Opus 1), is uniquely able to modify ...
Zoom struggles to grow beyond a crawl and its stock dips
Shares of Zoom Communications Inc. were trading 4% lower in the after-hours session today, even as the company delivered strong third-quarter earnings results and provided optimistic guidance for the current quarter. The company reported earnings before certain costs such as stock compensation of $1.38 per share, beating Wall Street’s consensus estimate of $1.31 by a ...
Multicloud GPU compute-as-a-service startup Kinesis Network goes fully serverless
Distributed cloud compute-as-a-service startup Kinesis Network Inc. today announced the availability of a new serverless feature for enterprises to access its scalable “always-on” compute resources for artificial intelligence workloads. With the new service, companies can access low-cost graphics processing units from multiple cloud providers, including Amazon Web Services Inc., Google LLC and Microsoft Corp., without ...
AI voice startup PlayAI raises $21M to power a new generation of more humanlike AI agents
Voice artificial intelligence startup PlayHT Inc., which likes to be known simply as PlayAI, said today it has raised $21 million in a seed round of funding. The round was led by Kindred Ventures. Others, including Race Capital, 500 Global and Y Combinator, also participated. It’s a big amount of money for a seed funding round, ...
Luma AI updates Dream Machine with new Photon image generation model and more
Artificial intelligence startup Luma AI Inc. today announced the debut of a powerful new model for image generation that’s available now through its popular Luma AI Dream Machine platform for creators and marketers. The AI startup, which provides tools for creating and generating images and videos using simple, text-based prompts, also said it’s launching Dream ...
IBM brings its most powerful Granite AI models to Amazon’s cloud
IBM Corp. is teasing a number of details about how it’s expanding its partnership with Amazon Web Services Inc. to advance responsible artificial intelligence for mutual enterprise customers. The company said it will showcase a number of key collaborations at AWS re:Invent next week, including the launch of its most powerful Granite models on the ...
Lightning AI raises $50M to eliminate AI development headaches
Artificial intelligence development platform provider Lightning AI said today it has closed on $50 million in an equity funding round that brings its total amount raised to $103 million. Today’s round included participation from Cisco Investments, J.P. Morgan, K5 Global and Nvidia Corp.’s investment arm. The New York-based company said the funds will help it ...
NetApp’s stock rises after raised profit and sales guidance, citing strong cloud storage demand
NetApp Inc. delivered a solid earnings and revenue beat today before raising its guidance for both metrics, saying it’s seeing strong demand for data storage services as companies upgrade their cloud infrastructure. The strong results and optimistic guidance helped to boost the company’s stock more than 5% in extended trading, adding to gains of just ...