AI takes center stage as Microsoft and Google earnings signal booming market
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Apr 26 2024- AI Growth in Big Tech Earnings Reports: Microsoft and Alphabet (Google's parent company) showcased impressive growth in their second-quarter earnings reports, driven by strategic investments in AI.
- Microsoft's Strong Performance: Microsoft reported a 17% revenue increase to $61.9 billion and a 20% profit surge to $21.9 billion, attributing much of this success to AI integration, particularly in Azure cloud computing.
- Alphabet's Success with AI: Alphabet saw quarterly sales rise to $80.5 billion, a 15% increase, and profits surged by 36% to $23.7 billion, emphasizing the role of AI across its product ecosystem.
- AI Investments and Challenges: Both companies invested significantly in AI research and development, but Google faced criticism over its AI chatbot Gemini; however, both remain confident in their AI strategies.
- Contrasting AI Strategies: Microsoft and Google prioritize AI integration for growth, while Meta (formerly Facebook) plans aggressive AI investment despite recent stock drops, showcasing differing approaches to AI.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
