Tag: AI demand
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Alibaba, Baidu Hike Cloud Prices
The recent moves by Alibaba and Baidu to increase their cloud prices by up to 34% amid a surge in artificial intelligence (AI) demand marks a significant shift in the cloud computing landscape. As Alibaba’s core e-commerce platforms stabilize, with a 6% year-over-year growth in China commerce revenue, the company is poised to leverage its…
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Oracle Shares Soar
Oracle’s shares surged as much as 14% in early trading following a third-quarter earnings beat that underscored accelerating demand for its cloud infrastructure, even as analysts flagged the outsized risks tied to a massive OpenAI contract. The company reported earnings per share of $1.79 on revenue of $17.19 billion, surpassing Wall Street estimates of $1.70…