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Cloud storage startup Wasabi raises $250M to reach unicorn status

TechCrunch

According to Synergy Group , an IT market research firm, Amazon, Microsoft and Google together held a 65% share of the global cloud services market as of Q2, up 61% year-over-year. L2 Point Management led with participation from Cedar Pine and return investors Fidelity Management & Research Company and Forestay Capital.

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Synthetic DNA startup Catalog partners with Seagate for its DNA-based data storage platform

TechCrunch

However, data storage costs keep growing, and the data people keep producing and consuming can’t keep up with the available storage. The partnership focuses on automating the DNA-based storage platform using Seagate’s specially designed electronic chips. Data needs to be stored somewhere.

Storage 206
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MGA Thermal raises $8M AUD led by Main Sequence for its modular energy storage blocks

TechCrunch

MGA Thermal wants to help utility companies transition from fossil fuels to renewable energy sources with shoebox-sized thermal energy storage blocks. The modular blocks also make it easier to convert infrastructure, like coal-fired power plants, into grid-scale energy storage. MGA Thermal’s modular energy storage blocks.

Energy 245
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Wasabi scores $112M Series C on $700M valuation to take on cloud storage hyperscalers

TechCrunch

Taking on Amazon S3 in the cloud storage game would seem to be a fool-hearty proposition, but Wasabi has found a way to build storage cheaply and pass the savings onto customers. Fidelity Management & Research Company led the round with participation from previous investors. Wasabi storage starts at $5.99

Storage 218
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AI dominates Gartner’s 2025 predictions

CIO

Artificial Intelligence continues to dominate this week’s Gartner IT Symposium/Xpo, as well as the research firm’s annual predictions list. “It It is clear that no matter where we go, we cannot avoid the impact of AI,” Daryl Plummer, distinguished vice president analyst, chief of research and Gartner Fellow told attendees. “AI

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Unlocking the full potential of enterprise AI

CIO

Research from Gartner, for example, shows that approximately 30% of generative AI (GenAI) will not make it past the proof-of-concept phase by the end of 2025, due to factors including poor data quality, inadequate risk controls, and escalating costs. [1] Reliability and security is paramount.

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Enterprise Storage Trends That CIOs Need to Grasp for the Remainder of 2022

CIO

Being on the forefront of enterprise storage in the Fortune 500 market, Infinidat has broad visibility across the market trends that are driving changes CIOs cannot ignore. We predicted at the start of 2022 that cyber resilience from the storage estate would be critical this year because of the threats of cyberattacks.

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