Google has acquired Wiz, a multi-cloud security firm that will remain cloud-agnostic under its new ownership. In fact, the ability to expand its customer base to companies that use competing cloud services like AWS or Azure was a key incentive for Google to buy the five-year-old startup, whose mandate is “to help every organization secure everything they build and run in the cloud — any cloud.” Google agreed to pay $32 billion for the New York-based firm, which had annual revenue of $700 million last year and was on track to increase that to $1 billion in 2025. Wiz, which had been considering an IPO, was most recently valued at $12 billion. Continue reading Google Agrees to Buy Cybersecurity Startup Wiz for $32 Billion

Alphabet announced that its revenue was up 14 percent to $84.7 billion in Q2, slightly outperforming expectations. Profits rose 29 percent to $23.6 billion, beating analyst targets by $900 million. Search continued to be a top performer, generating $48.5 billion in the three-month period ending June 30, while Google advertising was up 10.5 percent to $64.6 billion. Google CEO Sundar Pichai said the company’s cloud and generative AI solutions “are being used by more than 2 million developers.” The Google Cloud services unit surpassed the $10 billion quarterly revenue mark for the first time. “We are innovating at every layer of the AI stack,” Pichai added. Continue reading Alphabet Reports Q2 Profits Jump 29 Percent to $23.6 Billion

A consortium of top tech firms have joined forces to launch a security group focused on artificial intelligence applications. The cybersecurity-focused non-profit OASIS will oversee operational aspects of the Coalition for Secure AI, to be known as CoSAI, described as an “open-source community.” OASIS lists Google, IBM, Intel, Microsoft, Nvidia and PayPal as founding Premier Sponsors of CoSAI, whose “additional founding sponsors” include Amazon, Anthropic, Cisco, Chainguard, Cohere, GenLab, OpenAI and Wiz. “CoSAI is an initiative to enhance trust and security in AI use and deployment,” OASIS announced at the Aspen Security Forum. Continue reading Google, OpenAI, Nvidia and Others Form AI Security Coalition