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This widely-appealing and contemporary name would be well suited to a smart home or Artificial Intelligence organisation.
The name "CloudMagnate" has 12 characters and three syllables. Three syllable names are used by established brands like Nescafé, Grammarly and Adobe.
Cloudmagnate.com is a dot-com domain. Dot com domains are synonymous with websites. When you own a dot-com, it is much easier to rank for your own name in search engines.