Meta, Apple, Microsoft, and Amazon reported strong quarterly earnings, underscored by a surge in AI spending. Meta experienced a significant rise in ad revenue, surpassing expectations, attributed to enhanced AI deployment. CEO Mark Zuckerberg emphasized that investments in AI would yield further benefits. Microsoft announced record capital expenditures and leveraged AI advancements in its cloud service Azure, contributing to an 18% revenue increase. This resulted in a temporary $4 trillion market valuation. The heightened financial results prompt speculation about the effectiveness and profitability of Silicon Valley's investment in AI technology.
Meta reported a revenue increase of a couple billion dollars over Wall Street expectations, attributed to the deployment of AI in its ad system. CEO Mark Zuckerberg stated that this revenue increase would continue due to ongoing investments in superintelligent AI.
Microsoft's quarterly capital expenditure forecast led to its shares increasing significantly, enabling it to briefly breach a $4 trillion market valuation, driven by a strong performance in cloud computing and business software sales thanks to AI adoption.
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