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- Confluent Q4 📈, OpenAI's New Text Classifier 🤖, Red Hat and Oracle Partnership 🤝
Confluent Q4 📈, OpenAI's New Text Classifier 🤖, Red Hat and Oracle Partnership 🤝
Confluent reported fourth-quarter results that exceeded the S&P Capital IQ Consensus, with a loss of $(0.09) per share (excluding non-recurring items), which was $0.06 better than expected. Revenues rose 40.6% year/year to $168.67 million against the consensus of $164.24 million. The company also saw impressive growth in its remaining performance obligations (up 48%), customers with over $100k ARR (up 35%), and Confluent Cloud revenue (up 102%).
For the fiscal year 2023, Confluent is guiding EPS of $(0.28)-$(0.22), excluding non-recurring items, which is above the consensus estimate of $(0.45). Revenue guidance is in-line with expectations at $760-765 million against the $762.65 million consensus.
Read our summary of the earnings call here.
OpenAI has launched its new text classifier, ChatGPT. The tool is designed to detect when an AI algorithm has generated content based on a given prompt. It uses natural language processing (NLP) and machine learning (ML) to analyze the characteristics of human and AI-generated texts and make predictions accordingly.
This technology can help identify potential sources of misinformation or deceptive content and help educators better understand which texts are written by machines versus humans.
This tool is based on OpenAI’s GPT-3 language model and has been fine-tuned to detect AI-generated content. It uses a confidence threshold to ensure that only texts with high accuracy are marked as likely being generated by an algorithm. Additionally, OpenAI has created a preliminary resource for educators outlining the capabilities and limitations of ChatGPT, as well as engaging with them to learn about their use cases in the classroom. They also call for further input from those directly impacted by these issues, such as teachers, students, administrators, and education service providers.
OpenAI's launch of ChatGPT provides a valuable tool for detecting potential sources of misinformation or deceptive content online and helping ensure that users have access to reliable information and resources. It also serves as an important step towards engaging educators better to understand the implications of AI-generated texts in classrooms. As OpenAI continues to expand its outreach, they hope to gain more insight into how ChatGPT can be used most effectively.
HubSpot has earlier announced a restructuring plan to reduce operating costs and enable investment in long-term growth while driving profitability. More details has now been presented.
The Plan includes a reduction of the Company's current workforce by approximately 7% and lease consolidation.
Estimated charges related to the Plan are $72-$105 million, with $24-$31 million for employee severance costs and $48-$74 million for lease consolidation.
Actions associated with the workforce reduction under this Plan should be completed by the end of Q1 2023, while activities associated with lease consolidation should be fully complete in 2023.
In a move that will benefit the 90% of Fortune 500 companies that use products from either Red Hat Inc. or Oracle Corporation, the two tech giants have entered into a partnership that brings Red Hat Enterprise Linux (RHEL) to Oracle Cloud Infrastructure (OCI). The certification process is already underway, allowing customers with existing workloads to migrate them over to OCI easily. This agreement also expands both companies' technical support offerings for customers needing assistance when switching. In addition, Red Hat plans to offer more of its other products on OCI as customer demand increases.
C3 AI, a leader in enterprise AI application software, recently announced the launch of its C3 Generative AI Product Suite with the release of its first product — C3 Generative AI for Enterprise Search.
This transformative user experience provides users with a natural language interface to locate and access all relevant data across an enterprise’s information systems. The suite integrates the latest advancements from Google and OpenAI as well as models such as ChatGPT and GPT-3 into C3’s products. It is expected to be released in March 2023 at the C3 Transform conference in Boca Raton, Florida. This new product promises to revolutionize enterprise computing and dissolve the biggest barrier to effective action – access to timely, accurate information.
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