This week, the tech landscape witnessed a significant milestone as two of the industry’s giants, Microsoft and Alphabet, showcased their growing financial dependence on artificial intelligence (AI). The earnings releases from both companies illuminated the pivotal role that AI is playing in driving their growth trajectories. Let’s delve into the details of this transformative moment for Big Tech.

On Top of Our Mind This Week: Microsoft and Alphabet’s Growing Reliance on AI

Source: Financial Times

Event Details:

In their recent earnings reports, Microsoft and Alphabet demonstrated remarkable performance, surpassing analyst expectations in both earnings per share and revenue. Microsoft reported earnings per share (EPS) of $2.93, outpacing analyst projections of $2.78. The company’s revenue also exceeded expectations, with total revenues reaching $62.02 billion, surpassing the estimated $61.12 billion. What stood out prominently was the accelerating interest and investment in AI, which emerged as a key driver behind their...