Artificial intelligence (AI) was a key focus of earnings reports from big tech companies over the past week, with reactions to results from Meta Platforms (META), Amazon (AMZN), Microsoft (MSFT), and Apple (AAPL) suggesting it might be getting harder for big tech to wow investors with their AI plans.
Many of the companies have ramped up spending on AI, raising concerns about AI’s costs, and stock moves after the latest earnings this week indicate some have had greater success than others in convincing investors.
Meta shares gained after the company announced better-than-expected results and CEO Mark Zuckerberg highlighted its advances in AI.
This week, the company lifted the lower end of its capital expenditures (CapEx)guidance for the full year to $37 billion from $35 billion, while maintaining the high end at $40 billion. Meta also said it plans to increase CapEX further in 2025. Last quarter, Meta …