Adobe reported revenue of nearly $4.9 billion in the three months ended September 1, up 10% from a year earlier and consistent with the growth it reported in the prior quarter. Revenue was boosted by sales of its cloud-based design tools, which it has updated with generative artificial intelligence. Adobe’s sales slightly exceeded the company’s own forecast. Still, its share price ticked...
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Amazon’s Anthropic Deal Signals Cloud Sector Turbulence
You know the cloud industry is in upheaval when industry leader Amazon Web Services has to copy a tactic used by its smaller rivals to compete more effectively. The Amazon unit’s decision on Monday to invest up to $4 billion in AI startup Anthropic, as part of a broader deal in which AWS becomes the startup’s “primary cloud provider,” looks a lot like the type of equity-for-business deals AWS...
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