Microsoft, Meta, and Google just announced billions more in AI spending. Only Google convinced investors it’s paying off
Fortune
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Surging prices due to memory chip shortages have led to billions more in capital expenditures from Magnificent 7 companies—and many investors don’t like it.
- Meta, parent of Instagram and Facebook, beats revenue expectations Associated Press —
- Amazon Offers Q1 Shoutout To ‘Project Hail Mary’, Tops Wall Street Forecasts Amid AI Arms Race Deadline —
- Amazon reports increased 1Q profits and net sales fueled by cloud computing demand CTV News —
- Alphabet's first-quarter profit soars with Google's big AI bets AP News —
- Alphabet's cloud unit beats quarterly revenue estimates on strong AI demand - Reuters Reuters —