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- Top Cloud computing trends 📈
Top Cloud computing trends 📈
And also: Cloud VC funding plunge🔻, Increased short interest on Cloud ETF👀, Decline in cloud projects 📉 , LegalZoom acquisition 💰
This is the Cloudly Update. Helping you stay above the Clouds.
Today we bring you:
Top Cloud computing trends of 2023
Cloud VC funding in decline
Short interest on Cloud ETF grows
Cloud based projects seeing a decline
LegalZoom acquisition
Stability AI reaches Unicorn status
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Increased investment in cloud security and resilience
Cloud migration exposes new cybersecurity threats and requires AI and predictive technology to spot them before they cause problems.
Multi-cloud strategy
84% of mid-to-large companies will adopt a multi-cloud strategy by 2023. And will move away from damaging business strategies solely around a single cloud platform.
The AI and ML-powered cloud
This includes managing networks for storing resources, regulating data center power and cooling systems, and cyber security solutions.
Low-code and no-code cloud services
Includes tools for building websites, web applications & designing, and AI-powered applications.
Innovation and consolidation in cloud gaming
The ongoing rollout of 5G and other ultra-fast networking technologies will provide the higher bandwidth needed for streaming video games.
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Investments in private cloud-computing companies in Europe, Israel, and the USA dropped 42% in Q3 2022.
Only 3 software developers raised funds in Q3, while Q1 saw 51 with over $1 billion valuations.
Public cloud companies’ valuation dipped to $1.2 trillion from $2.8 trillion.
Rising interest rates, climbing inflation led to contracted valuations.
Around $770 billion is available to buy cloud companies and deals are likely to reach $101 billion on an annualized basis.
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First Trust Cloud Computing ETF saw a 29.6% growth in short interest, the number of shares that have been sold short and remain outstanding, in September.
As of September 30th, short interest totaling 239,300 shares from 184,700 shares on September 15th
Based on an average daily volume of 430,600 shares, the short-interest ratio is presently 0.6 days.
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Cloud-based XaaS market has been growing at a quarterly clip of 40 to 50%. But in the third quarter, ACV (Annual Contract Value) declined by 4% versus the prior year. This is the first time XaaS has seen a decline since the beginning of 2015.
In Europe ACV hit $3.8bn, with IaaS rising 13% to $2.9bn and SaaS falling 14% to $924m.
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LegalZoom announced the acquisition of Revv, a document automation and forms template Indian company. The financial terms remain undisclosed.
The acquisition will enhance LegalZoom's forms library and legal templates and will be used to develop modern product experiences and services for small businesses.
The company held $215.5 million in cash and equivalents on 30th June 2022. The share of LegalZoom reacted positively to the news.
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AI startup Stability AI raises $101M, led by Coatue, Lightspeed Venture Partners, and O’Shaughnessy Ventures, to develop more AI models for consumer and enterprise markets.
Now valued at $1 billion, Stability AI is best positioned to democratize generative AI.
Their neural network’s design allows it to run on consumer-grade graphics cards and has been downloaded by more than 200,000 developers.
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