Vertiv and Schneider Electric are vying for dominance in the data center cooling market, driven by increasing demand for AI solutions. Vertiv's revenue grew 24.1% to $3.274 billion, with 18% organic growth and adjusted EPS of $1.52. Schneider Electric reported record revenue of €21.2 billion, up 14% organically.
Snowflake's product revenue rose 37% to $1.49B, driven by AI demand. The company's AI-powered solutions, such as its Coco AI agent, have gained traction, making data jobs 5-10 times faster.
Meta's $18 billion settlement could unlock its AI product pipeline, allowing the company to introduce new AI-powered features and tools. Meanwhile, Amazon's cloud platform is being leveraged by Ramp to provide AI-enabled finance operations.
Other notable developments include Vertiv's acquisition of UtilityInnovation Group, a microgrid specialist, and Centene Corporation's appointment of a new CIO with an AI focus.
Key Takeaways
["Vertiv's revenue grew 24.1% to $3.274 billion in the data center cooling market.", 'Schneider Electric reported record revenue of €21.2 billion, up 14% organically.', "Snowflake's product revenue rose 37% to $1.49B, driven by AI demand.", "Snowflake's Coco AI agent makes data jobs 5-10 times faster.", "Meta's $18 billion settlement could unlock its AI product pipeline.", 'Ramp partners with AWS for AI-enabled finance operations.', 'Vertiv acquires UtilityInnovation Group, a microgrid specialist.', 'Centene Corporation appoints new CIO with AI focus.', 'NCR Voyix advances cloud pivot and AI installs.', 'Security industry shifts towards AI-powered solutions.']Vertiv vs Schneider Electric: Which AI Cooling Stock Deserves Your Money?
Vertiv and Schneider Electric, two major players in data center infrastructure, have posted impressive growth driven by AI-driven demand. However, their earnings tell different stories about where the real money is being made in the data center cooling race. Vertiv's revenue grew 24.1% to $3.274 billion, with 18% organic growth and adjusted EPS of $1.52. Schneider Electric reported record revenue of €21.2 billion, up 14% organically, with Q2 alone at €11.5 billion (+17% organic).
Vertiv vs Schneider Electric: AI Cooling Stock Showdown
Vertiv and Schneider Electric are competing in the data center cooling market, driven by increasing demand for AI solutions. Vertiv's AI-powered cooling solutions have gained traction, with revenue growing 23% year-over-year to $1.1 billion in Q4 2022. Schneider Electric reported 15% revenue growth to $2.8 billion in Q4 2022, driven by strong performance in industrial automation and building management systems.
Snowflake CEO: AI Drives 37% Revenue Surge
Snowflake's product revenue rose 37% to $1.49B, driven by AI demand. CEO Sridhar Ramaswamy says AI drove half the beat and lifted guidance to 36%. The quarter saw operating margin expand 400 basis points to 15%.
Snowflake's Coco AI Agent Drives Revenue Surge
Snowflake's Coco AI agent drove half the Q2 beat, with revenue up 37%. The agent helps customers bring more data onto Snowflake and consume more. CEO Sridhar Ramaswamy says Coco makes data jobs 5-10 times faster.
Vertiv Acquires UtilityInnovation Group
Vertiv Holdings will acquire UtilityInnovation Group, a microgrid specialist, to strengthen its position in the data center market and provide a competitive edge in the AI infrastructure market.
Centene Appoints New CIO with AI Focus
Centene Corporation appointed Bradley Bolivar as Chief Information Officer, succeeding retiring CIO Brian LeClaire. Bolivar brings nearly three decades of technology leadership experience.
NCR Voyix's Cloud Pivot and AI Installs
NCR Voyix has advanced its transition by outsourcing hardware manufacturing and emphasizing its cloud-based Voyix Commerce Platform. The company has secured 25 multiyear subscription contracts and expanded the use of remote, AI-assisted installations.
Security Industry Embraces AI-Powered Solutions
The security industry is shifting towards AI-powered solutions to respond to emerging threats. Companies like CrowdStrike, Cloudflare, and Akamai Technologies are introducing new AI-powered security products.
EquiReview-R: AI-Assisted Review
Researchers introduce EquiReview-R, an AI-assisted review system that provides evidence-guided refinement of structured concern sets.
AI Transforms Asset Management Operations
A global study by Clearwater Analytics reveals that 62% of asset managers expect AI to transform their front-, middle-, and back-office operational functions over the next 12 months.
Meta's $18B Settlement Could Unlock AI Products
Meta's $18 billion settlement could unlock its AI product pipeline, allowing the company to introduce new AI-powered features and tools.
Ramp Partners with AWS for AI-Enabled Finance
Ramp, a financial platform, has partnered with AWS to provide AI-enabled finance operations. The collaboration aims to modernize finance operations with AI-powered tools.
Sources
- Vertiv vs Schneider Electric. Only One AI Cooling Stock Deserves Your Money
- Vertiv vs Schneider Electric. Only One AI Cooling Stock Deserves Your Money
- Sridhar Ramaswamy Snowflake CEO on AI Flywheel
- Snowflake Coco AI agent drives 37% revenue surge
- Vertiv’s UIG Deal Targets the Next Big Constraint in AI Data Centers
- New CIO Appointment and AI Focus Might Change The Case For Investing In Centene (CNC)
- How NCR Voyix’s Cloud Pivot, AI Installs and Ro Khanna’s Buying At NCR Voyix (VYX) Has Changed Its Investment Story
- Security industry core products see generational shift as AI-native push accelerates
- More Criticism Does Not Make a Better Review: EquiReview-R
- AI Transforms Asset Management Operations
- Meta's $18B Settlement Could Unlock AI Product Wave
- Ramp announces Strategic Collaboration Agreement with AWS to provide AI-enabled finance operations
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