Cloud computing environment remains 'very healthy', says Goldman Sachs' Eric Sheridan

Published: Sep 10, 2024 Duration: 00:04:14 Category: News & Politics

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>>> WELCOME BACK BIG TECH AND CHIPS BOOSTING THE NASDAQ AND POWERING THE REMARKABLE TURNAROUND IN THE MAJOR AVERAGES JOINING US NOW IS ERIC SHERIDAN WHO IS IN SAN FRANCISCO AT THE ANNUAL COMMUNACOPIA CONFERENCE IT'S GREAT TO HAVE YOU YOU LED QUITE A NUMBER OF CONVERSATIONS INCLUDING WITH THE HEADS OF GOOGLE CLOUD AND ANTHROPIC. WHAT ARE YOUR TAKEAWAYS? >> I THINK THERE ARE THREE MAIN TAKEAWAYS FROM THE CONFERENCE SO FAR. FIRST THE CLOUD COMPUTING ENVIRONMENT REMAINS VERY HEALTHY. THAT'S DRIVEN BY THE A.I. DEPLOYMENT AND A.I. ENHANCEMENTS A LOT OF BUSINESSES ARE LOOKING AT IN DRIVING PRODUCTIVITY AND EFFICIENCY GAINS AND EXPERIMENTING WITH A.I. IN THEIR ENTERPRISE BUDGETS SECOND, THE OVERALL DIGITAL CONSUMER IS QUITE STRONG WE HEARD QUITE POSITIVE COMMENTS ACROSS THE GIG ECONOMY LIKE UBER, DOOR DASH, AND OTHERS. AND THEN THIRD ON THE DIGITAL ADVERTISING ENVIRONMENT, THINGS REMAIN RELATIVELY STABLE/HEALTHY I KNOW THERE'S A LOT OF CONCERN ABOUT THE MACRO ENVIRONMENT AND A LOT OF QUESTIONS ABOUT THAT OUT HERE, BUT I THINK THE DIGITAL ECONOMY IS PRESENTING MUCH MORE STABLE, STRONG THAN MAYBE SOME OF THE FEARS COMING INTO THE EVENT THIS WEEK >> WE JUST, EARLIER IN THE SHOW, WE PLAYED SOME COMMENTS FROM NVIDIA'S JENSEN HUANG ABOUT EMOTIONAL CUSTOMERS. WE WERE TALKING A LITTLE BIT ABOUT THAT YOUR SENSE FROM OUT THERE ABOUT THIS RETURN ON INVESTMENT WHERE A.I. SPENDING IS CONCERNED AND HOW THAT'S GOING TO FAN OUT, NOT ONLY OVER THE NEAR TERM, WHICH IS WHAT INVESTORS SEEM TO BE MOST FOCUSED ON IN THE PUBLIC MARKETS RIGHT NOW, BUT OVER THE LONG TERM, DIO WE FULLY UNDERSTAND THE RIPPLE EFFECTS? >> THERE'S A COUPLE MORE LAYERS TO THIS AND A MORE NUANCED ANSWER IN TERMS OF RETURN ON SPEND, IF SPENDING ON CHIPS AND CAPACITY RESULTS IN SPEND BY ENTER PRIPSS THAT ARE EXPERIMENTING WITH A.I., WE'RE SEEING THOSE RETURNS TODAY. THERE'S RE-ACCELERATING GROWTH AT AWS INSIDE AMAZON, THERE'S RE-ACCELERATING GROWTH INSIDE GOOGLE CLOUD AS PART OF ALPHABET THE LESS LINEAR, LESS VISIBLE PIECE IS THE DYNAMIC AROUND WHAT'S THE KILLER CONSUMER APPLICATION, THE KILLER ENTERPRISE APPLICATION, AND THERE IS LOW VISIBILITY INTO THAT BUT IN TERMS OF IMMEDIATE RETURN ON SPEND IN TERMS OF ENTERPRISE AND COMING BACK TO THE CLOUD COMPUTING ENVIRONMENT, WE THINK THERE'S BEEN A LOT OF EXAMPLES OUT HERE VERY SPECIFIC, A LOT OF COMPANIES ARE TALKING ABOUT ALREADY EXISTING PRODUCTIVITY AND EFFICIENCY GAINS FROM A.I., AND I THINK THAT'S WHAT'S BOLSTERING A LITTLE BIT OF THE CONFIDENCE IN THE MEDIUM TERM, THAT'S A PLACE ARE YOU CAN LOOK AND DIE NAM EX-REMAIN LESS CERTAIN AND LESS VISIBLE >> THREE OF THE COMPANIES YOU SPOKE WITH, UBER, DOORDASH, BOOKING, ALL HIGHER YEAR TO DATE, ALL UNDER $150 BILLION MARKET CAP UBER JUST BARELY AND THAT'S THE COMPANY I WORRY ABOUT IN THE FRAME OF A.I., TALKING ABOUT CHIP COMPANIES, THE HYPER SCALERS. THEY'RE REALLY PROVIDING THE RESOURCES. IT'S THE APPLICATION MAKERS WHO ARE SUCCESSFUL, IF THERE'S A REAL BOOM HERE THESE THREE NAMES REALLY SORT OF GREW UP IN THE MOBILE ERA. UBER WAS A KILLER APP FOR MOBILE ARE WE YET SEEING HOW A.I. AFFECTS THEIR BUSINESS AND WHETHER IT WILL BE A SIGNIFICANT TAIL WIND? >> NO, IT'S A GREAT POINT, JON THEY WERE THE QUINTESSENTIAL 2. COMPANIES, AND ESPECIALLY DOOR DASH FROM THE SHIFT TO MOBILE COMMUTING, ALL THREE OF THOSE COMPANIES YOU HIGHLIGHTED TALKED ABOUT A.I. ON STAGE. I THINK GENERALLY THEY BELIEVE THAT A.I. WILL AFFECT HOW THE USER OPENS THE APP AND EXPERIENCES THAT PRODUCT GOING FORWARD. A LOT THAT HAVE IS IN TESTING AND LEARNING MODE, BUT IN THE BACK SIDE OF THE HOUSE, I THINK A NUMBER OF THOSE TALK ABOUT ALREADY DRIVING, OPERATING EFFICIENCY GAINS BUSINESSES LIKE

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