Micron, Databricks and Foundation Experience Wave of Development

Micron Expertise posted a shocking 400% soar in knowledge middle revenues amid surging demand for AI chips, whereas knowledge intelligence firm Databricks secured a large $10 billion funding spherical at a $62 billion valuation. AI development momentum has additionally reached the accounting sector, with startup Foundation elevating $34 million to develop autonomous accounting brokers.

Micron experiences file quarter as knowledge middle demand rises 400%

Micron know-how I mentioned Document quarterly revenues pushed by robust knowledge middle development, with business gross sales up greater than 400% from a 12 months in the past and greater than 40% from the earlier quarter amid rising AI-related demand.

The chipmaker generated income of $8.71 billion for its fiscal first quarter ended Nov. 28, up from $4.73 billion a 12 months earlier. Knowledge middle revenues exceeded 50% of whole revenues for the primary time within the firm’s historical past, which is a excessive quantityHighlighting a big shift in Micron’s enterprise combine.

“Micron had a file quarter, and our knowledge middle income exceeded 50% of our whole income for the primary time.” He said CEO Sanjay Mehrotra. The corporate recorded internet revenue of $1.87 billion, or $1.67 per share, in comparison with a lack of $1.23 billion, or $1.12 per share, in the identical quarter final 12 months.

The outcomes replicate robust demand for reminiscence chips utilized in synthetic intelligence functions, though Micron famous weak spot in shopper markets. The corporate generated working money circulate of $3.24 billion, down barely from $3.41 billion within the earlier quarter.

Trying forward, Micron expects second-quarter income to succeed in $7.9 billion, plus or minus $200 million, noting that direct-to-consumer markets stay weak within the close to time period. Nonetheless, the corporate expects to return to development within the second half of the monetary 12 months.

“We proceed to seize share within the highest margin and strategically essential segments of the market, and we’re exceptionally effectively positioned to capitalize on AI-led development,” Mehrotra mentioned.

Databricks raises $10B Sequence J at $62B valuation amid AI growth

Knowledge and synthetic intelligence firm Databricks raises $10 billion in non-dilutive financing of $62 billion, representing one of many largest rounds of personal financing as buyers guess on the expansion of AI infrastructure.

The San Francisco-based firm has accomplished $8.6 billion in Sequence J funding thus far, led by Thrive Capital with participation from main buyers together with Andreessen Horowitz and DST World, the corporate. Announce December 17.

Foundation raises $34M Sequence A to construct AI brokers for accountants

The inspiration of his accounting know-how startup Believer $34M Sequence A funding to broaden its AI platform that helps automate accounting duties, firm Announce December 17.

The spherical was led by Keith Rabois, Managing Director of Khosla Ventures, with participation from former GitHub CEO Nat Friedman and Protected Superintelligence co-founder Daniel Gross. This follows the corporate’s $3.6 million seed spherical in October 2023.