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Snowflake shares slid 21% on Thursday after the cloud data storage services provider projected annual revenue below Wall Street estimates and disclosed a surprise retirement of long-time CEO Frank Slootman. The company, valued at $75.7 billion as of Wednesday close, was on track to about $16 billion in market capitalization, if losses hold.

Cloud monitoring firm Datadog raised its annual revenue and profit forecasts on Thursday, betting on accelerating demand for its AI-backed cybersecurity products.

Chrome browser and Android operating system, which it argues have helped maintain an illegal monopoly in online search.In addition to divestitures, prosecutors are also considering barring Google from collecting sensitive user data and requiring the company to make its search results and indexes available to competitors. Other measures could include allowing websites to opt out of having their content used to train AI models and appointing a court-monitored technical committee to oversee Google's operations.Reportedly, these remedies could reduce Google’s revenue while offering its competitors, such as Microsoft Bing and DuckDuckGo, more room to grow.

Subscribe to enjoy similar stories. As one of the chief architects of Amazon’s Alexa, Rohit Prasad has been at the vanguard of artificial intelligence. Now, he is leading the company’s effort to catch up in the AI race.

quarterly results from Microsoft melted $340 billion of stock market value on Tuesday from it and rival heavyweights racing to dominate artificial intelligence technology, while Nvidia and other AI chip sellers rallied after results from Advanced Micro Devices. The gains in chipmakers and losses in their biggest customers underscored a divide in the AI landscape, with investors recently questioning whether Wall Street's AI rally may have become overextended.

OpenAI has formed a Safety and Security Committee that will be led by board members, including chief operating officer Sam Altman, as it begins training its next artificial intelligence model, the artificial intelligence startup said Tuesday. Directors Bret Taylor, Adam D'Angelo and Nicole Seligman will also lead the committee, OpenAI said on a company blog.

Salesforce expanded its stock buyback program by $10 billion and announced a new dividend, but its annual revenue forecast that was below estimates pushed its shares down around 2% in after hours trading. The company's downbeat forecast signals a likely slowdown in cloud and tech spending as clients grapple with high interest rates and rising inflation, compelling them to keep a lid on costs.

Canada’s Shopify topped Wall Street estimates for fourth-quarter revenue and profit on Tuesday, riding on demand for its ecommerce services from merchants during the holiday shopping season.

Microsoft overtook Apple as the world’s most valuable company on Thursday after the iPhone maker’s shares made a weak start to 2024 due to growing concerns over demand.

After two years co-piloting the biggest acquisition in video game history past an onslaught of challenges, Xbox CEO Phil Spencer now moves on to his next quest: making Microsoft’s takeover of Activision Blizzard worth the hassle

Oracle sank 9% on Tuesday, after a weak forecast suggested strong competition in the cloud-computing industry and a digital spending pullback were weighing on its revenue growth. The company was on track to lose about $30 billion in market value, based on its premarket share price of $115. The stock has risen 55% this year on optimism the rise of generative AI would drive up cloud demand. Lower-than-expected revenue for the first quarter and a below-estimate forecast for the second, however, signaled the boost from AI would take longer to materialize. Oracle, known for its database software, has been playing catch-up with cloud majors such as Amazon Web Services, Microsoft's Azure and Alphabet's Google Cloud at a time businesses are dialing back tech spending over concerns about the economy. CEO Safra Catz also warned of near-term weakness in revenue growth at the Cerner health records business, which Oracle bought for $28.3 billion last year.

The crypto industry saw an increase in professional investors at record rates, the Wall Street Journal reported.