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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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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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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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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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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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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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Big Tech's "Magnificent Seven" heads into earnings season reeling from Trump turbulence
Economic Times
·
2m ago
Medial
Big Tech companies are entering the quarterly earnings season amid turmoil from President Trump's policies. The Magnificent Seven—Apple, Microsoft, Nvidia, Amazon, Tesla, Google (Alphabet), and Meta—have experienced a combined market value drop of $3.8 trillion since Trump's inauguration. His tariffs and antitrust actions have created uncertainty, impacting supply chains and investments. As they report earnings, these companies will address challenges, with Tesla, Google, Amazon, Meta, Microsoft, Apple, and Nvidia set to make announcements soon.
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All eyes on AI to drive Big Tech earnings
Economic Times
·
12m ago
Medial
The upcoming quarterly results of Big Tech giants will shed light on the impact and sustainability of artificial intelligence (AI) investments. Analysts predict strong growth and earnings for Microsoft and Google, driven by their AI initiatives. Apple, although a late entrant in the AI space, is expected to show improvement in China sales. However, analysts have concerns about Meta's growth due to increased spending on AI infrastructure. Microsoft is well-positioned to capitalize on generative AI and its cloud business, while Amazon's AWS is poised to capture AI-driven demand. Google's AI Overviews feature has faced skepticism and concerns about its impact on advertising revenue. Nevertheless, Google remains the top destination for search and search ad spending.
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Tech giants are set to spend $200 billion this year chasing AI
Economic Times
·
8m ago
Medial
Silicon Valley's tech giants, including Amazon, Microsoft, Meta, and Alphabet, are continuing to invest heavily in artificial intelligence (AI) despite previous criticism for the high costs without sufficient results. These companies are set to spend over $200 billion on AI-related capital expenditures this year alone. The race to secure high-end chips and build extensive data centers is driving this spending spree, with deals being made with energy providers, including reviving a nuclear plant. The tech giants aim to convince investors that these investments will lead to future profitability beyond their current business models.
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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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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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