Tech

Snowflake CEO Sridhar Ramaswamy downplays short-term stock market volatility driven by AI hype, emphasizing the company’s focus on long-term value creation. He advocates for a strategic, incremental approach to AI implementation, highlighting its potential to accelerate data-driven decision-making. While acknowledging potential market turbulence and comparing the current AI landscape to the dot-com era, Ramaswamy remains committed to Snowflake’s growth, emphasizing the importance of earning value “one dollar at a time.” He also stated he’s not currently selling shares.

Google Cloud has launched Gemini Enterprise and Business, subscription-based AI agents targeting enterprises of all sizes. Priced at $30/$21 per user monthly, these subscriptions enable businesses to create custom AI agents integrating with platforms like Box and Salesforce, and leverage pre-built Google agents. Model Armor, a built-in security feature, addresses data privacy concerns. Google aims to automate entire processes, differentiating from OpenAI’s plugin approach. Analysts emphasize security and continuous model upgrades (Gemini 3.0) as critical for wider adoption.

OpenAI has expanded its ChatGPT Go subscription plan, offering a more affordable option, to 16 additional Asian countries, bringing the total to 18. This rollout, following successful launches in India and Indonesia, aims to democratize access to advanced AI technologies like GPT-5 in emerging markets. ChatGPT Go provides enhanced features and higher usage limits compared to the free version, with localized pricing strategies to cater to diverse economic landscapes. This move signifies OpenAI’s focus on accelerating global AI adoption and gaining a competitive edge in the Asian market.

Citigroup has made a strategic investment in BVNK, a fintech startup specializing in stablecoin infrastructure, signaling growing institutional adoption of digital assets. BVNK provides payment infrastructure for global stablecoin transactions, facilitating seamless capital movement between fiat and cryptocurrencies. BVNK’s valuation exceeds $750 million. The investment, channeled through Citi Ventures, highlights Citi’s commitment to fintech innovation. BVNK is experiencing growth in the U.S., driven by a supportive regulatory environment. Other banks are also exploring stablecoins and blockchain, indicating Wall Street’s increasing embrace of crypto.

Nvidia CEO Jensen Huang voiced concerns over proposed H-1B visa fee increases, suggesting it could hinder opportunities for immigrants like himself. He emphasized immigration’s vital role in the “American dream,” while acknowledging the need for policy “enhancements.” The policy’s impact on the tech industry, a major H-1B visa user, is debated. Tech leaders have split opinions with some prioritizing efficient access to top talent versus prioritizing domestic workers and streamlining the process for “high value jobs.” The changes’ long-term consequences for U.S. tech competitiveness remain uncertain.

Google is modifying its “Work from Anywhere” (WFA) policy, limiting remote work outside the primary office location. Now, even a single day of remote work counts as a full week against the four-week annual allowance. This shift, implemented earlier this summer, doesn’t affect their hybrid work arrangement but restricts employees from using WFA for working from home or Google offices in different regions due to legal and financial considerations. This change aligns with a broader industry trend of tech companies pushing for increased in-office presence. The updated policy has sparked internal debate, with some employees finding the new rules “confusing”.

AMD’s stock surged following OpenAI’s announcement of increased procurement of AMD’s AI hardware, signaling a challenge to Nvidia’s dominance. OpenAI may acquire up to a 10% stake in AMD based on performance milestones. AMD’s market cap is $380 billion, marking its best weekly gain since 2016. AMD CEO Lisa Su emphasized the scalable nature of its AI chips. Nvidia CEO Jensen Huang described OpenAI’s potential equity stake in AMD as “surprising”, acknowledging increased competition.

AMD is challenging Nvidia’s AI chip dominance with a potentially multi-billion dollar GPU deal with OpenAI. This partnership aims to diversify OpenAI’s supplier base and mitigate antitrust concerns surrounding Nvidia’s 90% market share. AMD’s stock surged following the announcement, reflecting investor confidence. The deal is expected to generate significant revenue for AMD and positions the company as a stronger competitor in the AI hardware market, attracting regulatory attention amid concerns about market concentration and potential tariffs.

CoreWeave (CRWV) shares surged after unveiling new serverless reinforcement learning tools, simplifying AI agent development with up to 40% cost reductions in model training. This follows their $1 billion acquisition of Weights and Biases, complementing CoreWeave’s GPU infrastructure business. OpenAI and Meta recently committed billions to CoreWeave, highlighting growing demand. CoreWeave also aims to acquire Core Scientific for $9 billion, facing shareholder opposition. The Nasdaq-listed company focuses on specialized AI infrastructure.

Nvidia CEO Jensen Huang warns that the U.S. is “not far ahead” of China in AI, urging a nuanced strategy amidst intensifying competition. He acknowledges advancements in Chinese AI models and infrastructure, noting their lead in certain open-source aspects and energy production. Despite U.S. chip advantages, Huawei is challenging its dominance. Huang emphasizes the need for American companies to accelerate AI adoption and cautions against isolating U.S. technology, highlighting China’s significant market share and innovation in AI. He stresses the importance of global engagement to win the AI race.