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Alphabet and Microsoft see earnings rise on AI-infused cloud
Economic Times
·
1y ago
Medial
Alphabet (parent company of Google) and Microsoft have reported increased earnings driven by their cloud computing businesses, powered by artificial intelligence (AI) technology. Both companies have invested heavily in AI and are benefiting from its adoption in various industries. Cloud services have become essential for businesses as they transition to remote work and digital transformation. The pandemic has accelerated the demand for cloud-based solutions, leading to strong financial performances for Alphabet and Microsoft.
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Big Tech reports strong Q1 numbers amid AI push
Economic Times
·
1y ago
Medial
In the first quarter of 2024, technology giants Alphabet, Microsoft, and Meta reported strong earnings, with a focus on artificial intelligence (AI). Alphabet's parent company, Google, saw profits of $23.7 billion driven by cloud computing and AI. Microsoft reported a 17% increase in sales and attributed its success to AI and cloud services like Azure. Meta experienced a significant profit increase of $12.37 billion due to higher advertising revenue. However, Meta's CEO, Mark Zuckerberg, acknowledged that AI projects would require significant ongoing investment, while Google and Microsoft expressed confidence in the potential of their AI initiatives. Regulatory scrutiny of AI investments and alliances also remains a challenge for these tech companies.
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Meta, Microsoft reports lift AI-related stocks
Economic Times
·
2m ago
Medial
Shares of AI and cloud-computing companies surged following better-than-expected earnings from Meta Platforms and Microsoft. Nvidia and Advanced Micro Devices saw increases, with Amazon and Alphabet shares also rising. Microsoft's strong Azure growth reassured investors about its AI investments, while Meta's AI tools attracted advertising despite economic uncertainties. Super Micro Computer and C3.AI experienced modest gains, with Super Micro's earlier session slump partly recovered.
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Alphabet, Microsoft earnings show hefty AI bets are driving growth
Economic Times
·
1y ago
Medial
Alphabet and Microsoft reported strong earnings, driving a rally in technology stocks. Alphabet's stock rose by 10%, crossing the $2 trillion market value mark, while Microsoft gained nearly 3%. Both companies attributed their revenue growth to increased investments in artificial intelligence (AI). Microsoft's Azure cloud-computing platform saw a 31% jump in revenue, with AI services accounting for 7 percentage points of that growth. Google's cloud revenue also increased by 28% due to strong growth in Google Workspace, which offers various AI-powered features. This contrasted with Meta Platforms' warning of higher spending and slower growth.
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Big Tech stocks nosedive as frothy valuations, AI jitters spook investors
Economic Times
·
11m ago
Medial
Investors are selling off tech stocks amid concerns over stretched valuations and unrealistic expectations from artificial intelligence (AI). Disappointing earnings reports from Tesla and Alphabet have triggered a tech-led market slump. Tesla's Q2 profit fell 45% and it delayed a highly anticipated event for its robotaxi. Alphabet reported higher Q2 net income but flagged high capital expenses for the year. Stocks like Amazon, Apple, Nvidia, Microsoft, Alphabet, and Meta have all seen a decline. Tech majors like Nvidia, Apple, and Microsoft are still at high valuations despite the selloff. Concerns over the timing of returns on AI investments are growing.
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Strong ad sales, stable enterprise spending wind beneath Big Tech earnings
Economic Times
·
1y ago
Medial
US technology giants like Microsoft, Alphabet, Facebook, and Amazon are expected to post strong quarterly revenue growth driven by recovery in their enterprise software and digital ads businesses. However, the boost from artificial intelligence (AI) investments may not be significant in the short term. Microsoft is likely to report a rise in revenue from its investment in OpenAI, while other companies may face short-term bottom line impacts from AI investments. Cloud computing growth is expected to show little improvement as clients seek to optimize infrastructure costs.
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Google parent Alphabet soars past $2 trillion market cap on AI strength
Livemint
·
1y ago
Medial
Alphabet Inc., the parent company of Google, surpassed a market capitalization of $2 trillion for the first time. A strong earnings report, highlighting the company's presence in artificial intelligence and its cloud computing unit, contributed to the stock's 10% surge. This added nearly $200 billion to Alphabet's market value. The achievement puts Alphabet in the company of Apple, Microsoft, Saudi Aramco, and Nvidia, as the only companies to exceed the $2 trillion threshold. Despite previous criticisms, Wall Street remains bullish on Alphabet's future growth potential.
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Get ready for more AI mania this earnings season
Livemint
·
1y ago
Medial
Artificial intelligence (AI) is expected to take the spotlight during the upcoming earnings season, with tech giants such as Meta Platforms, Alphabet, Amazon.com, Micron, Microsoft, and Nvidia projected to drive significant net income growth. This comes as the S&P 500 is set to record an anticipated 8.8% figure for earnings growth, making it the strongest quarter since early 2022. However, the rest of the market may experience lackluster results, with banks and non-AI sectors forecasted to have smaller earnings. While AI-related stocks have seen significant investment, there are concerns about the overall fragility of the recovery trend.
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DeepSeek buzz puts tech stocks on track for $1.2 trillion drop
Economic Times
·
5m ago
Medial
Chinese AI startup DeepSeek's new model led to a $1 trillion loss in US and European tech stocks as investors reassess high valuations. DeepSeek's success challenges major AI firms like OpenAI, Microsoft, and Alphabet, and raises questions about costly AI investments. Its rise affected Nvidia, causing a premarket drop. The model's affordability disrupts existing AI supply chains, intensifying global competition. Chinese stocks responded positively, highlighting shifting dynamics and casting doubts on traditional high expenditure AI strategies.
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Microsoft results disappoint investors wanting more from AI
Economic Times
·
5m ago
Medial
Microsoft's Azure cloud business growth disappointed investors despite beating revenue estimates due to high AI expenses and competition from low-cost Chinese AI technologies. The stock dropped by 2% as Microsoft struggles to demonstrate returns on substantial AI investments. Azure's revenue growth fell short of expectations, exacerbated by a rising Chinese AI model, DeepSeek. Microsoft's shares gained 8% over the year but lagged behind rivals like Alphabet and Amazon. Despite this, Microsoft's AI capabilities continue to lure investors.
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Microsoft's slow cloud growth signals AI payoff will take longer
Economic Times
·
11m ago
Medial
Microsoft plans to increase spending on AI infrastructure despite slower growth in its cloud business, causing shares to fall. The company expects Azure cloud growth to accelerate in the second half of fiscal 2025. Microsoft's capital spending rose 77.6% to $19 billion in Q4 2024, with most of it invested in cloud and AI-related areas. While Azure growth slowed, AI services saw an increase in revenue. Microsoft CEO Satya Nadella stated that Azure AI is used by over 60,000 customers, and the average spend per customer continues to rise. Despite disappointment in Azure growth, Microsoft's overall revenue rose 15% to $64.7 billion in Q4.
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