Microsoft, Google Gain After AI Fuels Cloud Computing Demand [BNN Bloomberg (Canada)]
Alphabet Inc. - Class C Capital Stock (GOOG)
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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Source: BNN Bloomberg
The companies trounced Wall Street estimates with their latest quarterly results, lifted by a surge in cloud revenue — fueled in part by booming use of AI services. That sent shares of the companies up in late trading, with Alphabet soaring as much as 17% and Microsoft gaining 6.3%. The tech titans have been locked in a fierce battle for dominance in the field of artificial intelligence, with Microsoft joining forces with startup OpenAI to challenge Google's two-decade stranglehold on internet search. But Thursday's results showed there's ample room for both companies to grow. Silicon Valley has hailed 2024 as the year that companies will begin to deploy generative AI — technology that can create text, images and videos from simple prompts. In back-to-back earnings calls, Alphabet and Microsoft executives said the programs are driving more business for their cloud computing units. Corporate customers are more open to making long-term investments in their cloud infrastructure, s
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GOOG
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- 4/25/24 - Beat
GOOG
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- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- GOOG's page on the SEC website