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7 items- NEWSWhy Is Shopify's Stock Trading Higher On Friday?Shares of e-commerce company Shopify Inc (NYSE:SHOP) are trading higher after Evercore ISI analyst Mark Mahaney upgraded the stock from In-Line to Outperform rating and announced a price target of $75. Mahaney noted that a 30% pullback in the stock from the 52-week high has provided an attractive entry point into owning a best-in-class e-commerce platform business. The analyst said Shopify's very large Total Addressable Market (about $850 billion TAM), very strong competitive position, and upmarket opportunity show that the shares have a resilient long thesis. The analyst believes Shopify has the potential for materially ramping profitability with FCF margins, which have the scope
- NEWSSnowflake CEO Targets AI Acquisitions To Boost Growth: ReportSnowflake Inc (NYSE:SNOW) new Chief Executive Officer Sridhar Ramaswamy is strategically targeting artificial intelligence acquisitions to stay ahead of rivals such as Databricks Inc. and major cloud computing companies. Snowflake recently engaged in discussions to purchase Reka AI for over $1 billion, but the deal did not materialize. In April, Snowflake introduced its own large language model, Arctic, and supports other LLMs like OpenAI on its platform. Last month, Snowflake revealed plans to onboard approximately 35 employees from AI startup TruEra, which secured $25 million in funding in 2022, reported Bloomberg. “We will be on the lookout for acquisitions opportunistically,” Ra
- NEWSSnowflake & NVIDIA Team Up For AI Revolution: DetailsSnowflake Inc. (NYSE:SNOW) shares are trading slightly higher after the company inked a new collaboration with NVIDIA Corporation (NASDAQ:NVDA). This collaboration will enable customers and partners to build customized AI data applications powered by NVIDIA AI within Snowflake. Snowflake’s latest collaboration with NVIDIA integrates NVIDIA AI Enterprise software into Snowflake Cortex AI, incorporating NeMo Retriever microservices. The deal enables organizations to connect custom models to diverse business data for highly accurate responses. Additionally, Snowflake Arctic, the most open, enterprise-grade LLM, now fully supports NVIDIA TensorRT-LLM software, offering optimized perform
- NEWSSnowflake's GenAI Initiatives Drive Investor Interest: Analyst Sees Strong Revenue Growth AheadNeedham analyst Mike Cikos reiterated Snowflake Inc (NYSE:SNOW) with a Buy rating and a $210 price target. Snowflake has garnered investor attention in the last month based on the company’s GenAI initiatives, Cikos noted. While the company first unveiled Cortex in November 2023, the recent focus on Snowflake’s GenAI roadmap results from the launch of Arctic in April, the upcoming Analyst Day at Snowflake Summit in San Francisco, and investors determining the direction of the company under new CEO Sridhar Ramaswamy. Also Read: Snowflake To Boost Collaboration With Nvidia – What’s Going On? The Arctic is Snowflake’s family of Enterprise-grade models. Cikos noted that the Arctic
- NEWSAmazon AWS To Pump €7.8B Into German Cloud Expansion: DetailsAmazon.com Inc’s (NASDAQ:AMZN) Amazon Web Services (AWS) unveiled its plan to invest €7.8 billion in the AWS European Sovereign Cloud in Germany through 2040. The initiative will commence with the launch of the first AWS Region in the State of Brandenburg, Germany, by the end of 2025, catering to all customers. The long-term investment by AWS will foster productivity gains, drive digital transformation in businesses, strengthen the AWS Partner Network (APN), enhance the skills of the cloud and digital workforce, and foster renewable energy projects. AWS’s extensive investment is forecasted to contribute €17.2 billion to Germany’s GDP by 2040. Additionally, it is expected to sus
- NEWSCloud and AI Service Provider DigitalOcean Stock Soars - Here's WhyDigitalOcean Holdings Inc (NYSE:DOCN) shares are trading higher Friday after it reported fiscal first-quarter results. Revenue grew 12% year over year to $184.73 million, beating the analyst consensus estimate of $182.58 million. Adjusted EPS of $0.43 surpassed the analyst consensus estimate of $0.38. Annual Run-Rate Revenue (ARR) ended the quarter at $749 million, up 12% year over year, and Average Revenue Per Customer (ARPU) increased 8% year over year to $95.13. Builders and Scalers (customers spending over $50 per month) grew 8% Y/Y, and their revenue rose 13% Y/Y in the quarter. Adjusted EBITDA rose 33% Y/Y to $74 million, with a margin of 40% vs. 34% a year ago. As of
- NEWSInvestment Chief At $48B Global X Forecasts AI Stock Dominance In 2024: Unveils Top Investment OpportunitiesGlobal X’s investment chief, Jon Maier, reflects on the investment landscape for 2024, which is shaping up to be particularly interesting, thanks to AI-related stocks, cloud computing, cybersecurity, emerging markets, and small caps for potential growth. What Happened: Maier, who is associated with the $48 billion award-winning AI exchange-traded fund (ETF) provider Global X, has identified several promising sectors for investors in 2024, reported Business Insider. Among them, AI-related stocks, including Nvidia (NASDAQ:NVDA), cloud computing, and cybersecurity, stand out as “naturals that fit together.” Maier suggests investors consider the Global X Cloud Computing ETF (NASDAQ:CL
CLOU FAQ
6 questionsWhat does Global X Cloud Computing ETF do?
The investment seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Global Cloud Computing Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the underlying index. The underlying index is designed to provide exposure to exchange-listed companies that are positioned to benefit from the increased adoption of cloud computing technology. It is...Where does CLOU stock trade?
Global X Cloud Computing ETF (CLOU) is listed on NASDAQ.What sector and industry is CLOU in?
Global X Cloud Computing ETF operates in the n/a sector.When did Global X Cloud Computing ETF go public?
Global X Cloud Computing ETF (CLOU) completed its IPO in n/a.What companies are similar to CLOU?
Notable peers in the same industry include CBOE (Cboe Global Markets, Inc.), HCXY (Hercules Capital, Inc.), PCI (PIMCO Dynamic Credit and Mortgage Income Fund), BXS (BancorpSouth Bank), AJAX (Ajax I). Compare CLOU side-by-side with any of them on Quantisnow.How can I track CLOU on Quantisnow?
Quantisnow aggregates Global X Cloud Computing ETF's SEC filings, analyst ratings, insider transactions, FDA approvals, and press releases the moment they hit the wire (Wall Street's wire, on your screen.). Follow CLOU to receive live email and push alerts on every new disclosure.