Cyprus Mail
Artificial IntelligenceBusinessInternational

Alphabet, Microsoft shares jump as investors cheer AI investment

alphabet google

Microsoft and Google showed investors that heavy artificial intelligence investment can pay off with rising revenue, allaying concerns raised a day earlier by Meta, which said its expensive foray into AI was not immediately paying off.

Shares in Google-parent Alphabet were up over 11 per cent in Frankfurt on Friday, while Microsoft shares rose nearly 5 per cent.

That contrasts with a more than 10 per cent slide in Meta (META.O) shares on Thursday, after the social media firm signalled its costly bet on AI could take years to pay off.

Microsoft (MSFT.O) beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence across its cloud services.

Alphabet (GOOGL.O) announced its first-ever dividend on Thursday and a $70 billion stock buyback, after beating expectations for the quarter in sales, profit and advertising.

Follow the Cyprus Mail on Google News

Related Posts

Verbex Group Review: 5 trading tips for first-time Forex Traders [verbexg.com]

CM Guest Columnist

Cyprus Business Now

Kyriacos Nicolaou

Tesla’s plan for affordable cars takes page from Detroit rivals

Reuters News Service

War and peace on the brink

Ioannis Tirkides

UK’s Jet2 expects annual profit jump, sells 55 per cent seats for summer 2024

Reuters News Service

Snap shares jump nearly 30 per cent after first quarter beat

Reuters News Service