AI, cloud in spotlight as big tech earnings rollout

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SAN FRANCISCO, California — US tech giants saw their shares fluctuate this week as investors tried to gauge whether artificial intelligence (AI) will fill coffers or drain them.

SAN FRANCISCO, California — US tech giants saw their shares fluctuate this week as investors tried to gauge whether artificial intelligence will fill coffers or drain them.While it is important to stay on the cutting edge by investing in AI, the market wants financial engines of tech firms going strong to pay for it, according to analysts.

This picture taken on March 25, 2024, shows the Meta logo on a smartphone in Mulhouse, France. On August 2, Meta is among US tech giants that are under the spotlight as investors want to see if their strategies of employing cloud and artificial intelligence will boost their profits. AFP PHOTOAmazon said its profit in the recently ended quarter doubled with the help of renewed momentum of its AWS cloud computing business.

 

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