Dell Technologies announces financial results for its fiscal 2024 second quarter. Revenue was $22.9 billion, down 13% year-over-year and up 10% sequentially. The company generated operating income of $1.2 billion and non-GAAP operating income of $2 billion, down 8% and up 1% year-over-year, respectively. Diluted earnings per share was $0.63, and non-GAAP diluted earnings per share was $1.74, down 7% and up 4% year-over-year, respectively. Cash flow from operations for the second quarter was $3.2 billion, driven by working capital improvements, sequential growth and profitability. The company has generated $8.1 billion of cash flow from operations throughout the last 12 months.

Dell ended the quarter with remaining performance obligations of $39 billion, recurring revenue of $5.6 billion, up 8% year-over-year, and deferred revenue of $30.3 billion, up 8% year-over-year, primarily due to increases in service and software maintenance agreements. Cash and investments were $9.9 billion, and the company returned $525 million to shareholders in the second quarter through share repurchases and dividends.

We're at a once-in-a-generation inflection point in computing. The traditional ways of designing and building computing infrastructure are no longer adequate for the exponentially growing demands of workloads like generative AI and LLMs. In fact, the number of parameters in LLMs has increased by 10x per year over the past five years. As a result, customers need AI-optimized infrastructure that is both cost effective and scalable.

For two decades, Google has built some of the industry's leading AI capabilities: from the creation of Google's Transformer architecture that makes gen AI possible, to our AI-optimized infrastructure, which is built to deliver the global scale and performance required by Google products that serve billions of users like YouTube, Gmail, Google Maps, Google Play, and Android. We are excited to bring decades of innovation and research to Google Cloud customers as they pursue transformative opportunities in AI. We offer a complete solution for AI, from computing infrastructure optimized for AI to the end-to-end software and services that support the full lifecycle of model training, tuning, and serving at global scale.

NVIDIA today announced NVIDIA OVX servers featuring the new NVIDIA L40S GPU, a powerful, universal data center processor designed to accelerate the most compute-intensive, complex applications, including AI training and inference, 3D design and visualization, video processing and industrial digitalization with the NVIDIA Omniverse platform. The new GPU powers accelerated computing workloads for generative AI, which is transforming workflows and services across industries, including text, image and video generation, chatbots, game development, product design and healthcare.

"As generative AI transforms every industry, enterprises are increasingly seeking large-scale compute resources in the data center," said Bob Pette, vice president of professional visualization at NVIDIA. "OVX systems with NVIDIA L40S GPUs accelerate AI, graphics and video processing workloads, and meet the demanding performance requirements of an ever-increasing set of complex and diverse applications."

Dell Technologies introduces new offerings to help customers quickly and securely build generative AI (GenAI) models on-premises to accelerate improved outcomes and drive new levels of intelligence. New Dell Generative AI Solutions, expanding upon our May's Project Helix announcement, span IT infrastructure, PCs and professional services to simplify the adoption of full-stack GenAI with large language models (LLM), meeting organizations wherever they are in their GenAI journey. These solutions help organizations, of all sizes and across industries, securely transform and deliver better outcomes.

"Generative AI represents an inflection point that is driving fundamental change in the pace of innovation while improving the customer experience and enabling new ways to work," Jeff Clarke, vice chairman and co-chief operating officer, Dell Technologies, said on a recent investor call. "Customers, big and small, are using their own data and business context to train, fine-tune and inference on Dell infrastructure solutions to incorporate advanced AI into their core business processes effectively and efficiently."

Micron Technology, Inc. today announced it has begun sampling the industry's first 8-high 24 GB HBM3 Gen2 memory with bandwidth greater than 1.2 TB/s and pin speed over 9.2 Gb/s, which is up to a 50% improvement over currently shipping HBM3 solutions. With a 2.5 times performance per watt improvement over previous generations, Micron's HBM3 Gen2 offering sets new records for the critical artificial intelligence (AI) data center metrics of performance, capacity and power efficiency. These Micron improvements reduce training times of large language models like GPT-4 and beyond, deliver efficient infrastructure use for AI inference and provide superior total cost of ownership (TCO).

The foundation of Micron's high-bandwidth memory (HBM) solution is Micron's industry-leading 1β (1-beta) DRAM process node, which allows a 24Gb DRAM die to be assembled into an 8-high cube within an industry-standard package dimension. Moreover, Micron's 12-high stack with 36 GB capacity will begin sampling in the first quarter of calendar 2024. Micron provides 50% more capacity for a given stack height compared to existing competitive solutions. Micron's HBM3 Gen2 performance-to-power ratio and pin speed improvements are critical for managing the extreme power demands of today's AI data centers. The improved power efficiency is possible because of Micron advancements such as doubling of the through-silicon vias (TSVs) over competitive HBM3 offerings, thermal impedance reduction through a five-time increase in metal density, and an energy-efficient data path design.

NVIDIA DGX Cloud - which delivers tools that can turn nearly any company into an AI company - is now broadly available, with thousands of NVIDIA GPUs online on Oracle Cloud Infrastructure, as well as NVIDIA infrastructure located in the U.S. and U.K. Unveiled at NVIDIA's GTC conference in March, DGX Cloud is an AI supercomputing service that gives enterprises immediate access to the infrastructure and software needed to train advanced models for generative AI and other groundbreaking applications.

"Generative AI has made the rapid adoption of AI a business imperative for leading companies in every industry, driving many enterprises to seek more accelerated computing infrastructure," said Pat Moorhead, chief analyst at Moor Insights & Strategy. Generative AI could add more than $4 trillion to the economy annually, turning proprietary business knowledge across a vast swath of the world's industries into next-generation AI applications, according to recent estimates by global management consultancy McKinsey.

Cerebras Systems, the pioneer in accelerating generative AI, and G42, the UAE-based technology holding group, today announced Condor Galaxy, a network of nine interconnected supercomputers, offering a new approach to AI compute that promises to significantly reduce AI model training time. The first AI supercomputer on this network, Condor Galaxy 1 (CG-1), has 4 exaFLOPs and 54 million cores. Cerebras and G42 are planning to deploy two more such supercomputers, CG-2 and CG-3, in the U.S. in early 2024. With a planned capacity of 36 exaFLOPs in total, this unprecedented supercomputing network will revolutionize the advancement of AI globally.

"Collaborating with Cerebras to rapidly deliver the world's fastest AI training supercomputer and laying the foundation for interconnecting a constellation of these supercomputers across the world has been enormously exciting. This partnership brings together Cerebras' extraordinary compute capabilities, together with G42's multi-industry AI expertise. G42 and Cerebras' shared vision is that Condor Galaxy will be used to address society's most pressing challenges across healthcare, energy, climate action and more," said Talal Alkaissi, CEO of G42 Cloud, a subsidiary of G42.

A watershed moment on Nov. 22, 2022, was mostly virtual, yet it shook the foundations of nearly every industry on the planet. On that day, OpenAI released ChatGPT, the most advanced artificial intelligence chatbot ever developed. This set off demand for generative AI applications that help businesses become more efficient, from providing consumers with answers to their questions to accelerating the work of researchers as they seek scientific breakthroughs, and much, much more.

Businesses that previously dabbled in AI are now rushing to adopt and deploy the latest applications. Generative AI—the ability of algorithms to create new text, images, sounds, animations, 3D models and even computer code—is moving at warp speed, transforming the way people work and play. By employing large language models (LLMs) to handle queries, the technology can dramatically reduce the time people devote to manual tasks like searching for and compiling information.

Three leading European generative AI startups joined NVIDIA founder and CEO Jensen Huang this week to talk about the new era of computing. More than 500 developers, researchers, entrepreneurs and executives from across Europe and further afield packed into the Spindler and Klatt, a sleek, riverside gathering spot in Berlin. Huang started the reception by touching on the message he delivered Monday at the Berlin Summit for Earth Virtualization Engines (EVE), an international collaboration focused on climate science. He shared details of NVIDIA's Earth-2 initiative and how accelerated computing, AI-augmented simulation and interactive digital twins drive climate science research.

Before sitting down for a fireside chat with the founders of the three startups, Huang introduced some "special guests" to the audience—four of the world's leading climate modeling scientists, who he called the "unsung heroes" of saving the planet. "These scientists have dedicated their careers to advancing climate science," said Huang. "With the vision of EVE, they are the architects of the new era of climate science."

Oracle today announced the addition of generative AI-powered capabilities within Oracle Fusion Cloud Human Capital Management (HCM). Supported by the Oracle Cloud Infrastructure (OCI) generative AI service, the new capabilities are embedded in existing HR processes to drive faster business value, improve productivity, enhance the candidate and employee experience, and streamline HR processes.

"Generative AI is boosting productivity and unlocking a new world of skills, ideas, and creativity that can have an immediate impact in the workplace," said Chris Leone, executive vice president, applications development, Oracle Cloud HCM. "With the ability to summarize, author, and recommend content, generative AI helps to reduce friction as employees complete important HR functions. For example, with the new embedded generative AI capabilities in Oracle Cloud HCM, our customers will be able to take advantage of large language models to drastically reduce the time required to complete tasks, improve the employee experience, enhance the accuracy of workforce insights, and ultimately increase business value."

A new global study by the IBM Institute for Business Value found that nearly half of CEOs surveyed identify productivity as their highest business priority—up from sixth place in 2022. They recognize technology modernization is key to achieving their productivity goals, ranking it as second highest priority. Yet, CEOs can face key barriers as they race to modernize and adopt new technologies like generative AI.

The annual CEO study, CEO decision-making in the age of AI, Act with intention, found three-quarters of CEO respondents believe that competitive advantage will depend on who has the most advanced generative AI. However, executives are also weighing potential risks or barriers of the technology such as bias, ethics and security. More than half (57%) of CEOs surveyed are concerned about data security and 48% worry about bias or data accuracy.