Tag: Snap

Managed services deals increase in size and value

Posted on April 25, 2023 by - News

Managed services contact deals fell in 2022 but the average deal size grew by 22 per cent, according to IDC beancounters.

The number crunchers said that there were more than 1,700 managed services deals signed last year worth more than $125 billion in contract value.

The research firm reports that despite indications of a global economic slowdown, IT spending across organisations is steadily increasing.

There was an increase in larger deal signings (total contract value (TCV) above $100 million) in 2022 compared to 2021.

IDC said that as technology is increasingly becoming the backbone of organisational growth strategies, they are seeing more and more organisations upgrading their IT infrastructure leveraging cloud, artificial intelligence, and security.

Nvidia expects slowdown

Posted on May 26, 2022 by - News

The chipmaker Nvidia has warned of trouble ahead and that it is pulling back on new hiring.

The move lines up with its comments during its latest earnings release when it said that it expects sales of GPUs for gaming consoles and PCs to decline in the current quarter.

CEO Jensen Huang said that while Nvidia had a solid previous quarter, with revenue up 46 per cent over last year to $8.29 billion and was “gearing up for the largest wave of new products in our history” with new GPU, CPU, DPU and robotics processors coming online in the second half of the year, it is expecting to see lower revenue.

Word on the street is that the company appears to be bracing for a slowdown and the leaders want to want to take a pause to onboard the “thousands of new hires we’ve recently made”.

Nvidia is not the only one – Lyft, Uber and Snap, have announced hiring slowdowns. Nvidia was expected to weather events due to continued strong demand in the GPU market that has kept prices high and supply short.