AI Revolution 'On the Doorstep:' The 'Tidal Wave' Is Well Underway, Analyst Says [Yahoo! Finance]
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Source: Yahoo! Finance
The impressive results from tech giants such as Microsoft Corp . (NYSE: MSFT Alphabet Inc. (NASDAQ: GOOGL )(NASDAQ: GOOG ) and Amazon.com Inc. (NASDAQ: AMZN ) underscored this transition, according to Daniel Ives , an equity analyst at Wedbush. These companies have reported “eye-popping capital expenditure numbers,” initiating an “AI tidal wave” in software and cloud development driven by generative AI. “The next phase of AI spending is now on the doorstep for the likes of Salesforce Inc. (NYSE: CRM MongoDB Inc. (NASDAQ: MDB Oracle Corp. (NYSE: ORCL ServiceNow Inc. (NYSE: NOW Palantir Technologies Inc. (NYSE: PLTR Snowflake Inc. (NYSE: SNOW ) and many others,” Ives wrote. The expert said companies were “laser-focused on deploying generative AI” across various sectors. Additionally, major players such as Meta and Apple were diving deep into AI, heralding a consumer AI cycle that promised significant spending in the coming years. Other major players like Meta Platforms Inc. (NA
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