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Economic Times
| 11dBig Tech reports strong Q1 numbers amid AI push
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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