Snap shares surged over 30% and Alphabet was up 13%, propelled by positive earnings. Microsoft also jumped 5.5% due to growth in Azure unit driven by AI.
Alphabet introduced its first dividend and $70 billion buyback. Snap gave optimistic guidance, expecting a rise in daily active users driven by AI technology.
Microsoft's CEO highlighted the AI impact on business outcomes, emphasizing the significance of AI transformation. Alphabet's CEO mentioned strong momentum and leadership in AI research.
Investor interest in AI remains high, as seen in the post-market stock movements post-earnings reports. Companies' communication about AI's role significantly influences investor perception.
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