AI is finally resulting in real growth for big tech | TechCrunch
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Generative AI technologies are being suffused into a host of applications, and the financial results of all that investment are starting to show up.
  • AutoTL;DRBEnglish
    1•1 year ago

    This is the best summary I could come up with:

    Generative AI technologies are being suffused into a host of software applications aimed at businesses and consumers alike, and the financial results of all that investment are starting to show up.

    A close-reading of Alphabet and Microsoft’s third-quarter results shows that new AI tech is helping some of the world’s biggest companies grow their revenues.

    We’re going to cover a lot of positive news today, but the two companies’ reports yesterday engendered varying reactions from investors.

    This morning, I want to quickly parse the two tech companies’ earnings through the cloud and AI lens, and then glean what I can from their post-results conference calls.

    Revenue from its “Intelligent Cloud” business group rose 21% year-on-year, including going up 29% at Azure, three percentage points better than analysts expected.

    The market’s reaction to the two sets of data provides their grading, but we care about the AI-related components that went into the top-line numbers.

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