Seagate Projects Third-Quarter Revenue Below Expectations Amid Slow PC Market Recovery

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Seagate Technology has forecasted a disappointing third-quarter revenue, projecting figures below analyst expectations due to weak sales of its storage devices for personal computers, as the PC market remains sluggish.

Key Points:

  • Weakened PC Market: Despite the integration of on-device AI features and an expected Windows 11 refresh cycle, Seagate’s outlook reflects the ongoing struggles in the PC market. Global PC shipments in 2024 saw only a 1% rise, with the total number of units falling below 250 million for the second consecutive year.
  • Revenue Forecast: Seagate anticipates third-quarter revenue to be around $2.10 billion, plus or minus $150 million. This forecast is below analysts’ average estimate of $2.19 billion, based on data from LSEG.
  • Profit Estimates: Seagate expects an adjusted profit of $1.70 per share for the third quarter, which is slightly above analysts’ estimate of $1.69.
  • Cloud and AI Prospects: While the forecast is gloomy for the near term, analysts suggest that the growing investment in infrastructure for generative AI development by cloud providers could provide a boost to Seagate’s sales in 2025. Seagate’s disk drives are crucial for storing vast amounts of data, making the company a key player in the evolving AI-driven tech landscape.
  • Recent Performance: For the second quarter ending Dec. 27, Seagate reported revenue of $2.33 billion, in line with analysts’ expectations of $2.32 billion.

Oracle Launches AI Agents to Assist Sales Professionals

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Oracle has unveiled a new set of artificial intelligence (AI) agents designed to assist sales professionals in managing customer interactions more effectively. The new AI tools aim to automate and streamline several tasks that typically demand a significant amount of time and effort, such as data entry and customer reporting.

Key Points:

  • AI-Powered Sales Assistants: Oracle’s new AI agents are tailored to help sales teams by automating routine tasks. These agents can update company records, track deal progress, and generate reports, allowing sales professionals to focus more on customer relationships rather than administrative work.
  • Customer Intelligence: One notable feature of the new agents is their ability to compile and analyze customer data from various Oracle business software products. For instance, a “customer intelligence” agent can gather records from different departments, even in multiple languages, and create detailed reports to guide sales teams during customer meetings.
  • Real-World Use Cases: The AI agents can identify critical customer information, such as missed shipments in foreign markets, providing sales teams with insights that can inform decisions and negotiations. This global capability is particularly beneficial for companies working with international customers.
  • No Extra Charge: Oracle has made these features available to its customers starting Tuesday, without any additional fees.

Trump Announces $500 Billion AI Investment with OpenAI, SoftBank, and Oracle

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President Donald Trump unveiled a major artificial intelligence initiative on Tuesday, with OpenAI, SoftBank, and Oracle teaming up to form a joint venture called Stargate. The venture aims to invest $500 billion into AI infrastructure, marking a significant step forward in the development of AI technologies.

Key Points:

  • Joint Venture Stargate: OpenAI, SoftBank, and Oracle have joined forces to create Stargate, a collaborative venture that will focus on enhancing AI infrastructure. The $500 billion investment is set to drive advancements in AI technology and its applications across various industries.
  • Trump’s Support: President Trump expressed his commitment to facilitating the venture through emergency orders, aiming to streamline processes and provide the necessary support to ensure the success of the project.
  • Strategic Significance: This investment marks a significant development in the growing AI sector, as these major players look to capitalize on the increasing demand for artificial intelligence capabilities. The collaboration between tech giants OpenAI, SoftBank, and Oracle is expected to shape the future of AI innovation.