“AI-Led Wins for Microsoft and Alphabet Skyrocket Revenues”
Technology giants Microsoft and Alphabet have seen substantial rewards from their extensive investments in artificial intelligence (AI). Recent first-quarter results show a rise in revenue driven by a surge in corporate demand for their AI-powered cloud computing services.
These favorable outcomes elevated the combined market worth of both US-based companies by over $250bn. Other tech companies that primarily invest in AI, including Amazon and Nvidia, also experienced a surge in their shares by approximately 3% and 6%, respectively.
AI's impact goes beyond just improvements in infrastructure. Advertising revenue for Google, an Alphabet subsidiary, also noticed a leap. This indicates AI-powered chatbots have not yet significantly impacted the usage of Google, the world's preeminent search engine.
Alphabet, gearing up its market capitalisation beyond the $2tn limit. Microsoft, the most valued company and primary supporter of OpenAI, saw a near 2% increase, pushing its worth over $3tn.
However, not all tech companies have had it rosy. Meta, the parent company of Facebook, experienced a 11% decline after hinting at aggressive investment plans in AI products like chatbots, yielding modest returns so far.
Despite the varied trajectories these tech giants are on, it's evident that those building cloud infrastructure are taking full advantage of the AI spending plans.
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What do you think about the impact of AI on these tech company's fortunes?
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