Microsoft (MSFT.US) and Google (GOOGL.US) showed investors that investing heavily in artificial intelligence could lead to increased returns, thus easing concerns raised by Meta a day ago.
The Zhitong Finance App notes that Microsoft (MSFT.US) and Google (GOOGL.US) have shown investors that investing heavily in artificial intelligence can lead to increased returns, thus easing concerns raised by Meta a day ago. Meta said its expensive experiment in the field of artificial intelligence did not immediately pay off.
After the financial report was announced, the stock price of Google's parent company Alphabet rose by more than 11% after the market, while Microsoft's stock price rose nearly 5%.
This is in stark contrast to Meta shares falling more than 10% on Thursday, after the social media company said that its huge bet on artificial intelligence could take years to pay off.
Microsoft's third-quarter revenue and profit announced on Thursday surpassed Wall Street expectations, thanks to the benefits of artificial intelligence in its cloud services.
On Thursday, Alphabet announced its first dividend and repurchase of $70 billion of shares after sales, profits, and advertising revenue for the quarter surpassed expectations.