Microsoft, Alphabet Earnings Show Only This One Thing Matters for Big Tech

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States sue Meta alleging harm to youth, General Motors withdraws full-year guidance, and other news to start your day.

The artificial intelligence boom is both an opportunity and a risk for Big Tech. Just look at Microsoft and Alphabet’s earnings.

Newsletter Sign-up Microsoft’s Azure and other cloud services revenue surged 28% in its fiscal first quarter, beating the company’s own guidance and, significantly, it’s a reacceleration. Three percentage points came from AI services. That bodes well, particularly given Microsoft said the impact from its AI offerings would be weighted toward the second half of the financial year.

That investors largely overlooked a revenue beat in Google’s much larger ad business tells a story in itself. What’s Next: Microsoft is previewing AI-based security software with customers, Bloomberg reported, and says many of them are signing up for its Azure cloud offering that offers OpenAI tools. Current quarter Azure revenue growth is expected to be 26%, the company told analysts on a conference call.***Alphabet Beats on Sales but Disappoints in Cloud Growth Google parent Alphabet’s better-than-expected earnings were overshadowed by smaller cloud revenue growth than analysts had forecast.

What’s Next: A floor vote for House speaker could be held Wednesday, the Journal reported. To be elected speaker in the 433-member House, any candidate would need a majority of the votes. Currently there are 221 Republican seats, and the Democrats have 212.

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