Alphabet, Amazon outpace Meta in AI during earnings bonanza
Alphabet's Google saw a clear payoff from its AI spending, with its cloud computing unit recording $20 billion in sales, while Meta Platforms lagged behind. Amazon's cloud division revenue grew 28 percent, driven by its AI progress.
Alphabet, Amazon, Meta, and Microsoft released their earnings reports, providing insight into their AI spending. Alphabet's Google cloud computing unit saw $20 billion in sales, beating the $18.4 billion projection, driven by demand for its AI software and infrastructure. Meta increased its capital expenditures to $145 billion, but its consumer AI app has been slower to take off. Amazon's cloud division revenue grew 28 percent, driven by its AI progress and investments in OpenAI and Anthropic PBC. Microsoft expects sales in its Azure cloud unit to increase about 40 percent in the current quarter.
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