(Reuters) - Google parent Alphabet Inc, Microsoft Corp and Amazon.com Inc made headway in the latest quarter in the areas that will be their main engines of growth for years to come, driving up shares across the tech sector on Friday.
Shares of all three surged in early trading, adding more than $120 billion to their combined market value - more than the gross domestic product of Morocco.
For Alphabet, search traffic on mobiles surpassed desktop traffic worldwide for the first time, while Amazon was able to boost margins, an area of concern, as its cloud business boomed.
(Reuters) - Intel Corp's move to cut growth forecast for its highly profitable business that makes chips used in data centers may have disappointed investors, but analysts see the unit rebounding next year as more users take to cloud services.
Expanding the business is critical to Intel's efforts to reducing its dependence on the PC market, which has been shrinking for almost four years. Buying Altera Corp earlier this year was a step in this direction.
(Reuters) - Computer-maker Dell Inc struck a deal on Monday to buy data storage company EMC Corp for $67 billion, setting a record in the technology industry, as it tries to transform itself into a giant in the fast-growing market for managing and storing corporate data.
The acquisition, the year's third-largest in all sectors, highlights the frenzy of dealmaking sweeping the economy, as big or mature companies take advantage of low interest rates to buy rivals as a way to spur growth.
(Reuters) - Amazon.com Inc's cloud business, Amazon Web Services, has launched a service to help customers build applications to connect devices through the cloud, the so-called "Internet of Things".
The service, called "AWS IoT", will allow factory floors, vehicles, health care systems, household appliances among other "things" to connect through cloud services, the company said on Thursday.
The connection to the cloud will be fast and lightweight, making it a good fit for devices that have limited memory, processing power, or battery life, Amazon said.
A huge category, the Internet of Things (IoT) refers to uniquely identifiable objects and their virtual representations in an Internet-like structure. IoT represents the logical evolution of the cloud and big data: the idea to enable sensor-equipped "things" to communicate with one another in meaningful, actionable ways, such as the following examples:
(Reuters) - General Electric Co said on Wednesday it is developing a cloud-based service tailored for industrial customers, the latest step in the U.S. conglomerate's effort to gain business from data generated by machines.
GE Chief Executive Jeff Immelt has bet on developing analytics and software for customers of the company's jet engines, power-generating turbines, healthcare equipment and other industrial products.
More than 50 billion machines are expected to be connected to the Internet by 2020, according to GE.
(Reuters) - Amazon.com Inc's shares surged more than 20 percent in early trading on Friday, adding more than $46 billion to the company's market value, after strong growth in the e-commerce giant's cloud business drove a surprise quarterly profit.
The company's market capitalization soared to more than $270 billion, overtaking that of Wal-Mart Stores, the world's biggest retailer.
SHANGHAI/BEIJING (Reuters) - E-commerce giant Alibaba Group Holding Ltd is an underdog in the global cloud computing industry, but it has one thing going for it: it's Chinese.
Alibaba this week scored a minor deal with China's northeastern port city of Dalian to build a cloud computing center and provide online government services such as bill payment.
The pact is a small part of a growing portfolio of similar cloud services tie-ups between Alibaba and government bodies around China and comes against a backdrop of Beijing's deepening paranoia about foreign technology.
Cloud computing is computing in which large groups of remote servers are networked in such a way to provide some centralized service (i.e., data storage or online access to computer services or resources). Cloud computing ("the cloud") focuses on maximizing the effectiveness of shared resources. Cloud computing is the convergence of multiple concepts which includes virtualization, distributed applications, grid, maturity of enterprise software applications and enterprise IT management.
FRANKFURT (Reuters) - Britain's Interoute, a high-capacity data network and corporate cloud services provider, is taking on new private equity investors to fund acquisitions across Europe and the United States, the company said on Monday.
Aleph Capital Partners, a UK investment firm headed by former Goldman Sachs European private equity investment chief Hugues Lepic, and Crestview Partners, a U.S. private equity firm founded by ex-Goldman colleagues, have agreed to buy a 30 percent stake in London-based Interoute.