Plus: Docusign raised its revenue guidance after stronger-than-expected uptake of its AI-powered platform. And a new survey found only about a quarter of companies know how much AI they are using. Danny Lewis hosts.
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[00:00:16] [SPEAKER_00] Here's your afternoon TNB Tech Minute for Friday, June 5th. I'm Danny Lewis for The Wall Street Journal. Bitcoin dipped below $60,000 today, at one point hitting its lowest intraday level since October 2024. The rapid declines came after Michael Saylor's Bitcoin accumulation firm Strategy said it unloaded a portion of its massive holdings earlier this week.
[00:00:38] [SPEAKER_00] And another popular cryptocurrency, Zcash, saw steep declines after a security researcher used Anthropic's AI tool to discover a critical counterfeiting vulnerability in the privacy-focused token. Zcash dropped about 40% over the past 24 hours, according to CoinGecko. DocuSign bumped up its revenue guidance for the year after stronger uptake of its AI-powered platform helped lift its profit and revenue in the first quarter.
[00:01:03] [SPEAKER_00] The electronic signature company says it now expects as much as $3.5 billion in revenue, a $6 million boost from its previous target. DocuSign's CEO says its Intelligent Agreement Management Platform represents almost 13% of its annual recurring revenue in the fiscal year. The first quarter, up from 11% in the prior quarter. Corporate finance chiefs are trying to get a better understanding of how much AI their companies are using in order to avoid sticker shock.
[00:01:30] [SPEAKER_00] According to an as-yet-unreleased survey from accounting giant KPMG, only 26% of companies say they have a comprehensive view of their AI costs. That comes as many AI vendors are shifting their pricing structures to be based on usage instead of flat subscriptions, which can make costs more unpredictable and harder to model. AI providers including Anthropic and OpenAI and software companies such as Microsoft and Salesforce charge enterprise customers, at least in part, by usage.
[00:01:59] [SPEAKER_00] And that's a wrap on your TNB Tech Minutes. For a deeper dive into what's happening in tech, check out our Tech News Briefing podcast on Tuesdays and Fridays.
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