Alphabet, Microsoft shares jump as investors cheer AI investment

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LONDON : 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 shares on Thursday, after the social media firm signalled its costly bet on AI could take years to pay off. Microsoft 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 announced its first-ever dividend on Thursday and a $70 billion stock buyback, after beating expectations for the quarter in sales, profit and advertising. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.

 

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