Latest news with #AmazonBedrock
Yahoo
a day ago
- Business
- Yahoo
Amazon Top AWS Generative AI Exec Exits as Big Tech Talent War Intensifies
July 1 - Amazon (NASDAQ:AMZN) confirmed Thursday that Vasi Philomin, vice president of generative AI at Amazon Web Services, has departed the company. Philomin led AWS's generative AI efforts, including the development of Amazon Bedrock, the company's platform for building and scaling foundation model-based applications. His LinkedIn profile states he built Bedrock from the ground up, positioning it as a key tool for enterprise AI deployment. Warning! GuruFocus has detected 4 Warning Sign with AMZN. The departure comes as AWS reportedly plans to revamp Bedrock to better compete with Alphabet's (GOOGL) Google Cloud offerings. Philomin told Reuters he has joined another company, but did not provide further details. Amazon noted that Rajesh Sheth, a vice president who previously led Amazon Elastic Block Store, has taken over some of Philomin's responsibilities. Philomin's exit highlights growing competition among tech giants to attract top AI talent. Earlier this week Meta Platforms (META) was reported to have hired four OpenAI researchers to support its superintelligence initiative. Meta recently committed $14.3 billion to Scale AI and appointed its CEO, Alexandr Wang, to lead the project. As the AI arms race accelerates, companies are moving aggressively to secure experienced leadership in generative technologies. Based on the one year price targets offered by 61 analysts, the average target price for Meta Platforms Inc is $721.00 with a high estimate of $935.00 and a low estimate of $466.00. The average target implies a downside of -0.70% from the current price of $726.09. Based on GuruFocus estimates, the estimated GF Value for Meta Platforms Inc in one year is $537.77, suggesting a downside of -25.94% from the current price of $726.09. Gf value is Gurufocus' estimate of the fair value that the stock should be traded at. it is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. for deeper insights, visit the forecast page. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Amazon Top AWS Generative AI Exec Exits as Big Tech Talent War Intensifies
July 1 - Amazon (NASDAQ:AMZN) confirmed Thursday that Vasi Philomin, vice president of generative AI at Amazon Web Services, has departed the company. Philomin led AWS's generative AI efforts, including the development of Amazon Bedrock, the company's platform for building and scaling foundation model-based applications. His LinkedIn profile states he built Bedrock from the ground up, positioning it as a key tool for enterprise AI deployment. Warning! GuruFocus has detected 4 Warning Sign with AMZN. The departure comes as AWS reportedly plans to revamp Bedrock to better compete with Alphabet's (GOOGL) Google Cloud offerings. Philomin told Reuters he has joined another company, but did not provide further details. Amazon noted that Rajesh Sheth, a vice president who previously led Amazon Elastic Block Store, has taken over some of Philomin's responsibilities. Philomin's exit highlights growing competition among tech giants to attract top AI talent. Earlier this week Meta Platforms (META) was reported to have hired four OpenAI researchers to support its superintelligence initiative. Meta recently committed $14.3 billion to Scale AI and appointed its CEO, Alexandr Wang, to lead the project. As the AI arms race accelerates, companies are moving aggressively to secure experienced leadership in generative technologies. Based on the one year price targets offered by 61 analysts, the average target price for Meta Platforms Inc is $721.00 with a high estimate of $935.00 and a low estimate of $466.00. The average target implies a downside of -0.70% from the current price of $726.09. Based on GuruFocus estimates, the estimated GF Value for Meta Platforms Inc in one year is $537.77, suggesting a downside of -25.94% from the current price of $726.09. Gf value is Gurufocus' estimate of the fair value that the stock should be traded at. it is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. for deeper insights, visit the forecast page. This article first appeared on GuruFocus.
Channel Post MEA
6 days ago
- Business
- Channel Post MEA
Rubrik Acquires Predibase To Accelerate Agentic AI Adoption
Cybersecurity company Rubrik has announced it has entered into an agreement to acquire Predibase to accelerate agentic AI adoption from pilot to production at scale. Together, Predibase and Rubrik will deliver radical simplicity in models and data, resulting in improved accuracy, lower costs, better performance, and automated data governance. Venture firms Greylock and Felicis led funding of Predibase to date; terms of the transaction were not disclosed. Completion of the transaction is subject to customary closing conditions. Founded by AI technologists from Google and Uber, Predibase offers a fast way to fine-tune open source models into highly accurate, production-ready solutions. The Predibase platform combines a proprietary post-training stack for customizing models with a highly optimized inference engine. The platform includes a turbo serving engine for over 2x performance gains, along with LoRA eXchange, an open source system for deploying personalized models at scale. With Predibase, teams can support different users, use cases, and departments without ballooning infrastructure costs. 'We created Predibase to lift the barriers between an idea and production-ready AI. Today, many organizations still face challenges moving beyond the proof-of-concept stage,' said Devvret Rishi, Co-Founder and CEO of Predibase. 'Predibase removes the hardest part of that journey and accelerates production-ready AI by giving teams an easy-to-use platform to tune models to their own data and run on an optimized inference stack. This unlocks more accurate results and faster models, all at lower cost.' Overcome the Proof of Concept Wall Gartner found on average that more than half of AI projects never make it into production and it takes eight months to go from AI prototype to production. Common hurdles include the risks in accessing valuable data, limitations in model accuracy and quality, high infrastructure costs, and a lack of data governance. These challenges lead to extended time to realize a clear return on investment. Predibase delivers better performance, up to 80% cost savings, and reduced AI infrastructure complexity over hosting foundation models. A Powerful Combination for Secure, Scalable AI 'What the Predibase team has achieved with model training and serving infrastructure in the last few years is nothing short of remarkable. AI engineers and developers across the industry trust their expertise,' said Bipul Sinha, CEO, Chairman and Co-Founder of Rubrik. 'Together, Rubrik and Predibase will drive agentic AI adoption around the world and unlock immediate value for our customers.' Integrating Predibase will expand the work to secure and deploy GenAI applications that Rubrik is doing today with Amazon Bedrock, Azure OpenAI, and Google Agentspace. Organizations globally rely on Rubrik to tackle complex challenges including accessing the right data, managing security, and optimizing for cost and performance. The combination of Predibase and Rubrik will bring optimized, fine-tuned, cost-effective models with governed data to help customers securely deploy agentic AI. Bipul Sinha discussed the acquisition in a blog post here.
Indian Express
6 days ago
- Business
- Indian Express
Amazon loses an AWS generative AI boss as tech talent shuffle heats up
Amazon's AWS recently lost a key vice president helping oversee generative artificial intelligence development as well as the company's Bedrock service, as the competition for talent heats up. Vasi Philomin told Reuters in an email that he left Amazon for another company, without providing specifics. A company spokesperson confirmed that Philomin had recently left after eight years with Amazon. Philomin helped lead generative AI efforts and product strategy, and oversaw foundation models known as Amazon Titan. The spokesperson said Rajesh Sheth, a vice president previously overseeing Amazon Elastic Block Store, had assumed some of Philomin's responsibilities. Philomin left Amazon earlier in June. In his biography, Philomin said he helped create and lead Amazon Bedrock, a hub for using multiple AI models and one of AWS's premier products in its battle for AI supremacy. He was a frequent speaker at AWS events, including Amazon's annual cloud computing conference in Las Vegas. An Amazon spokesman noted that there are other vice presidents at AWS who also work on generative AI projects. Amazon is working to bolster its reputation in AI development, after rivals like OpenAI, and Google have taken an early lead, particularly with consumer-focused models. The Seattle-based online retailer and technology powerhouse has invested $8 billion in AI startup Anthropic and integrated its Claude software into its own products including a new revamped version of voice assistant Alexa that it's rolling out to customers this year. In December, Amazon introduced its Nova AI models which provide for text, video and image generation. Earlier this year, it added to the lineup with a version called Sonic that can more readily produce natural-sounding speech. Companies are employing creative techniques to hire top AI talent, including using sports industry data analysis to help identify undiscovered talent, Reuters reported last month. As a result, compensation has skyrocketed for some. However, as Amazon races to produce more advanced AI, it said it expects its own success will lead to fewer corporate jobs, according to a memo from CEO Andy Jassy last week. Job growth limits will be driven in particular by so-called agentic AI, which can perform tasks with minimal or even no additional input from people. 'As we roll out more Generative AI and agents, it should change the way our work is done. We will need fewer people doing some of the jobs that are being done today and more people doing other types of jobs,' Jassy wrote.
The Hindu
6 days ago
- Business
- The Hindu
Amazon loses an AWS Gen AI boss as tech talent shuffle heats up
Amazon's AWS recently lost a key vice president helping oversee generative artificial intelligence development as well as the company's Bedrock service, as the competition for talent heats up. Vasi Philomin told Reuters in an email that he left Amazon for another company, without providing specifics. A company spokesperson confirmed that Philomin had recently left after eight years with Amazon. Philomin helped lead generative AI efforts and product strategy, and oversaw foundation models known as Amazon Titan. The spokesperson said Rajesh Sheth, a vice president previously overseeing Amazon Elastic Block Store, had assumed some of Philomin's responsibilities. Philomin left Amazon earlier in June. In his biography, Philomin said he helped create and lead Amazon Bedrock, a hub for using multiple AI models and one of AWS's premier products in its battle for AI supremacy. He was a frequent speaker at AWS events, including Amazon's annual cloud computing conference in Las Vegas. An Amazon spokesman noted that there are other vice presidents at AWS who also work on generative AI projects. Amazon is working to bolster its reputation in AI development, after rivals like OpenAI, and Google have taken an early lead, particularly with consumer-focused models. The Seattle-based online retailer and technology powerhouse has invested $8 billion in AI startup Anthropic and integrated its Claude software into its own products including a new revamped version of voice assistant Alexa that it's rolling out to customers this year. In December, Amazon introduced its Nova AI models which provide for text, video and image generation. Earlier this year, it added to the lineup with a version called Sonic that can more readily produce natural-sounding speech. Companies are employing creative techniques to hire top AI talent, including using sports industry data analysis to help identify undiscovered talent, Reuters reported last month. As a result, compensation has skyrocketed for some. However, as Amazon races to produce more advanced AI, it said it expects its own success will lead to fewer corporate jobs, according to a memo from CEO Andy Jassy last week. Job growth limits will be driven in particular by so-called agentic AI, which can perform tasks with minimal or even no additional input from people. "As we roll out more Generative AI and agents, it should change the way our work is done. We will need fewer people doing some of the jobs that are being done today and more people doing other types of jobs," Jassy wrote.
