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Microsoft's AI bets boost cloud business, Alphabet yet to find silver lining

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Remembering Harley: Graveside memorial service honours homeless Hantsport man’s life | SaltWire - Google-parent Alphabet's cloud business suffered as long-time rival Microsoft's took off in the September quarter, demonstrating early signs that the Windows maker's investment in artificial intelligence was paying off.

Microsoft has emerged as an AI frontrunner, largely due to its substantial investment into startup OpenAI, the maker of hit product generative AI chatbot ChatGPT. Microsoft's chief financial officer Amy Hood said on a conference call with analysts that higher-than-expected AI consumption was responsible for a 3 percentage point boost to its cloud business.

In contrast, revenue at Google's cloud business rose 22.5% to $8.41 billion in the quarter ended Sept 30, its slowest growth in at least 11 quarters. That lagged an average Wall Street estimate of $8.62 billion.

 

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