The agents will continue until revenue improves
Today: Salesforce continues its agentic AI push, Databricks secures one of the biggest funding rounds in tech history, and the rest of this week's enterprise funding.
Today: Why Microsoft is doubling down on its security efforts, Snowflake ramps up its generative AI approach, and the latest moves in enterprise tech.
Welcome to Runtime! Today: Why Microsoft is doubling down on its security efforts, Snowflake ramps up its generative AI approach, and the latest moves in enterprise tech.
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After a rough couple of years for Microsoft's security reputation, the company acknowledged Thursday that it needs to make changes and accelerate efforts to do better. The Secure Future Initiative is more-or-less an updated version of founder Bill Gates' "Trustworthy Computing" memo, a public pledge to improve its security practices that doubled as a wake-up call for employees.
"In recent months, we’ve concluded within Microsoft that the increasing speed, scale, and sophistication of cyberattacks call for a new response," wrote Brad Smith, the company's vice chair and president, in a blog post introducing the new push. The initiative comes almost four months after sophisticated hackers were able to read the emails of several Biden administration staffers thanks to a flawed authentication key policy and a bug in Microsoft Entra, which was only the latest in a series of cloud security problems that have plagued the company in recent years.
Smith described the initiative in three broad categories.
From now on, "we are all security engineers," wrote Charlie Bell, executive vice president for Microsoft Security, in a memo sent to all Microsoft employees Thursday outlining the changes taking place within its huge software development organization.
"Today’s cyber threats emanate from well-funded operations and skilled hackers who employ the most advanced tools and techniques," Smith wrote in his post. Microsoft is easily one of the biggest targets on the planet for those operations given its size, history, and reach across the world of enterprise software.
Snowflake Computing focused mostly on business users of its cloud data warehouse during its meteoric rise, but has started to look more and more like its data-scientist oriented rival Databricks this year as the AI boom rolls on. In truth, both companies are converging on the same territory as businesses attempt to articulate an AI strategy around their corporate data, and a new product unveiled by Snowflake this week has something for everybody.
Snowflake Cortex is a new managed cloud service designed to help software developers write AI applications using corporate data stored in Snowflake, and to also help business users interact with their data using Snowflake's own large-language models. “We want to make these advanced features, which are more and more a requirement for the modern enterprise, and integrate them deeply within Snowflake, so that our power users, the analysts that spend pretty much all of their time in Snowflake, become a lot more productive,” Snowflake's Sridhar Ramaswamy told Techcrunch.
According to Supervised's Matthew Lynley, Cortex also features a search engine that's designed to do retrieval augmented generation, a technology that builds on vector databases and is drawing a ton of interest for its ability to reduce the hallucination problem in LLMs. Sort of like Nvidia, both Snowflake and Databricks should continue to benefit from the AI boom as enterprise software spending in general remains muted.
Peter Guagenti is the new president and chief marketing officer at Tabnine, joining the GitHub Copilot competitor from Cockroach Labs.
Matt Renner is the new president of North America and global startups for Google Cloud, eight months after he joined the company from Microsoft.
Carly Brantz and Marcus Holm joined LaunchDarkly as the new chief marketing officer and chief revenue officer, respectively.
Microsoft began selling the $30 a month Microsoft 365 Copilot AI service this week, in what could be its most successful AI launch to date or a test of how many people are willing to double their Microsoft 365 bill to get auto-generated meeting summaries.
Several Cloudflare services were down for hours Thursday after it lost power at a data center, causing a cascading series of failures.
PagerDuty bought Jeli.io, a startup that helps companies understand how to recover from infrastructure failures.
Atlassian beat Wall Street estimates for both revenue and profit during its last quarter and maintained its upcoming guidance, but the day traders were still not impressed.
HubSpot acquired Clearbit, which tracks down customer data so salespeople can bug you at work, for an undisclosed amount.
Boeing disclosed that it's dealing with a ransomware attack involving stolen data, but it wasn't clear if it had paid the ransom.
Thanks for reading — see you Saturday!