All three of the three cloud services giants provided quarterly updates last week. One key trend was apparent: Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Cloud and Microsoft's (NASDAQ: MSFT) Azure are gaining ground on Amazon (NASDAQ: AMZN) Web Services (AWS). Alphabet reported that Google Cloud revenue soared 28% year-over-year in the quarter ending March 31, 2023. Read More...
SoftBank’s Arm registers for blockbuster U.S. IPO
NEW YORK (Reuters) -SoftBank Group Corp’s chip maker Arm Ltd has filed with regulators confidentially for a U.S. stock market listing, Arm said on Saturday, setting the stage for this year’s largest initial public offering. The IPO registration shows that Softbank is pressing ahead with the blockbuster offering despite adverse market conditions, after saying in March that it planned to list Arm in the U.S. stock market. U.S. IPOs, excluding listings for special purpose acquisition companies, are down about 22% to a total of just $2.35 billion year-to-date, according to Dealogic, as stock market volatility and economic uncertainty put many IPO hopefuls off.