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Google, Microsoft Are Spending Massively on AI, Quarterly Earnings Show
This week Alphabet CEO Sundar Picahi assured investors that their long-term AI focus and investment (and a "commitment to innovation") "are paying off," reports the Associated Press. Alphabet's stock has already soared 20% this year, and it's "still thriving" as the company "navigates through a piv...
This week Alphabet CEO Sundar Picahi assured investors that their long-term AI focus and investment (and a "commitment to innovation") "are paying off," reports the Associated Press. The profits would have been even higher if Google wasn't pouring so much money into building up its AI arsenal in a technological arms race that includes other industry heavyweights Microsoft, Amazon, Apple, Facebook parent Meta Platforms and rising star OpenAI. The AI spending will likely stay at roughly the same level during the current October-December period, and the rise even higher next year, according to Anat Ashkenazi, Alphabet's chief financial officer.
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