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Google Stock Soars, Meta Tumbles as Investors Digest Latest Big Tech Earnings [Yahoo! Finance]
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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US:NASDAQ Investor Relations: abc.xyz/investor
Shares of Google-parent Alphabet jumped on Thursday after it said surging demand for its AI models and services helped its cloud business grow at its fastest rate in nearly a decade last quarter. Meta shares tumbled after it raised its full-year AI spending forecast, despite spending less than expected last quarter and having less to show for its spending to date. Big stock moves on Thursday followed big earnings beats out of Silicon Valley on Wednesday. Google parent Alphabet ( GOOG ), Microsoft ( MSFT ), Amazon ( AMZN ), and Meta Platforms ( META ) all handily beat expectations on the top and bottom lines last quarter. Cloud growth, generally considered a proxy for AI demand, accelerated to its fastest pace in more than three years at Amazon and more than four at Microsoft. Alphabet's cloud business grew more than 60%, its fastest growth since 2017, when the then-nascent business was about a twentieth of its present size. Why This Matters Alphabet, Microsoft, Amazon, and
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- Half of Google's and Amazon's ‘blowout AI profits' came from a stake in Anthropic—not from their actual business [Fortune][Fortune]
- Oil prices whipsaw while US stocks hover above their record heights [Globe and Mail, The (Toronto, Canada)][Globe and Mail, The]
- Nvidia's $4.9 trillion chip empire has a new problem: its biggest customers [Business Insider][Business Insider]
- Wall Street Lifts Alphabet Price Targets After Cloud's 63% Growth: Is the AI Stack Story Just Getting Started? [Yahoo! Finance][Yahoo! Finance]
- If AI Is Doing 75% of Google's New Coding, the Stock Might Be Underpriced [Yahoo! Finance][Yahoo! Finance]
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