Jordan Novet
CNBC
San Francisco, CA, United States
Contact Jordan
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Recent articles by Jordan:
Cloud leaders Amazon, Google and Microsoft show the once-booming market is cooling down
Companies looked for ways to save money on their cloud bills in the fourth quarter, a trend that could persist for at least the first half of 2023. → Read More
Amazon's cloud business reports 20% growth in fourth quarter, missing estimates
Amazon Web Services is still growing faster than its parent company, but the unit is seeing a deceleration as businesses reel in spending. → Read More
Qualcomm revenue falls 12%, guidance implies more pain this quarter
Qualcomm saw weakness in mobile handset performance, and the chipmaker sees a sharper revenue decline coming in the quarter ahead. → Read More
Facebook-parent Meta announces $40 billion stock buyback
Meta added active users in the fourth quarter, but revenue growth still slowed, and the social networking company is emphasize its cash-generation powers. → Read More
ChatGPT maker OpenAI comes up with a way to check if text was written by a human
OpenAI, the maker of chatbot ChatGPT, acknowledges that its tool for spotting synthetic text does make mistakes. It wants input from teachers and parents. → Read More
Intel shares drop on weak quarterly results and expectations for another quarter of losses
Intel called for a loss in the first quarter, while analysts had expected income. The chipmaker is dealing with a sharper-than-expected PC market contraction. → Read More
IBM tops revenue estimates, says it will cut 3,900 jobs
Growth in mainframe sales helped IBM avoid slipping back into a pattern of declining revenue. The company faces a high bar for free cash flow in 2023 and 2024. → Read More
Microsoft's forecast suggests gloomy tech environment will continue
Microsoft's business weakened in December. Now it expects those patterns to continue to play out through March, including in its critical Azure cloud. → Read More
Microsoft set to report earnings after market close
Microsoft is reporting results for the first time since announcing that it was cutting 10,000 jobs as it braces for slowing growth. → Read More
Texas Instruments replaces CEO Rich Templeton with current operating chief Haviv Ilan
The chipmaker tried a similar move in 2018 but the operating chief selected to become CEO ended up resigning for violating conduct rules. → Read More
Microsoft is laying off 10,000 employees
Microsoft said it's letting go of 10,000 employees and taking a $1.2 billion charge as the software maker braces for slower top-line growth. → Read More
Microsoft looked at buying Figma but declined to put in an offer as Adobe deal was nearing
Microsoft had its hands full with Activision Blizzard but was also seeing how Figma's software was taking off internally. → Read More
Salesforce co-CEO Marc Benioff hints at more potential layoffs after this week's job cuts
Salesforce is confronting slowing growth, an activist investor concerned about the company's operating leverage and a set of high-profile departures. → Read More
Amazon says it will cut over 18,000 jobs, more than initially planned
Amazon has decided to get rid of additional roles after committing to a round of cuts in its corporate workforce in November. → Read More
Microsoft recognizes its first union as ZeniMax software testers organize
Testers at multiple U.S. ZeniMax video game studios voted in favor of joining a union. Microsoft's support lines up with a previous commitment. → Read More
IBM beat all its large-cap tech peers in 2022 as investors shunned growth for safety
The 111-year-old hardware, software and consulting conglomerate is benefiting from changing investor sentiment and a preference for cash over growth. → Read More
Microsoft responds to FTC case seeking to block Activision Blizzard deal, saying it wouldn't hurt competition
Microsoft said for the third largest console maker to be buying a major gaming franchise would't overturn a competitive market. U.S. regulators don't agree. → Read More
Here's how much money Google estimates Microsoft's cloud business is actually losing
Google sees Microsoft's Azure revenue in the latest fiscal year at less than $30 billion, while analysts' numbers are significantly higher. → Read More
Workday names Sequoia's Carl Eschenbach as co-CEO, alongside Aneel Bhusri
Workday named Carl Eschenbach, who has spent almost seven years at Sequoia Capital, as its new co-CEO, replacing Chano Fernandez. → Read More
Marc Benioff tells Salesforce workers that new employees are 'facing lower productivity'
Last year Marc Benioff, Salesforce's co-founder and CEO, said people could work very productively at home. Now he's saying newer employees are having issues. → Read More