The activist investor Starboard Value LP has acquired a stake in Salesforce, founder Jeff Smith told CNBC on Tuesday. Shares of Salesforce were up by more than 5% Tuesday morning following Smith’s announcement. Smith did not disclose the size of Starboard’s stake, but told CNBC that Salesforce is currently trading low due to a “sub-par mix of growth and profitability.” Salesforce slashed its...
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Oracle’s Answer to the Microsoft-OpenAI Alliance: Cozying Up to Cohere
Oracle has invested in Cohere, an artificial intelligence startup that competes with OpenAI, the startup said on Thursday. What Cohere didn’t say: Oracle plans to make the startup a centerpiece of its strategy to catch up to bigger cloud rivals that sell services powered by large-language models. Steve Miranda, a senior Oracle executive, has told employees the company plans to sell access...
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