Layoffs are underway inside Amazon’s cloud computing division, which reported a 20% year-over-year increase in sales last quarter, down from 27.5% in the previous quarter, as its customers reduced their spending. The company began notifying affected employees on Wednesday, according to a memo from Amazon Web Services CEO Adam Selipsky, which was viewed by The Information. He did not indicate how...
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Google Invests in AI Startup Runway to Wrest Cloud Business From AWS
Google is investing in Runway, a New York–based startup that lets customers generate video from text descriptions using artificial intelligence it pioneered, at a valuation of around $1.5 billion including the new capital, according to two people familiar with the matter. The investment, part of a roughly $100 million funding round, underscores the fierce competition among cloud providers...
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