Big Tech earnings highlighted big spending on artificial intelligence. Here's what it means for AI king Nvidia

Nvidia has needed help from its Big Tech friends to become Wall Street's artificial intelligence darling. Those friends haven't left the party yet. In their earnings reports this week, Club holdings Microsoft , Alphabet , Facebook-parent Meta Platforms and Amazon indicated continued investments to advance their AI ambitions — a good sign for Nvidia.

mountain Nvidia YTD Nevertheless, the earnings reports and commentary from Microsoft, Google-parent Alphabet, Meta and Amazon help illustrate why Nvidia has repeatedly been able to downplay the near-term financial impact of Washington's export controls. Spending by U.S. tech giants on AI infrastructure is soaring, and orders for Nvidia's advanced chips are an essential part of those capital expenditure budgets.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Stocks tick higher after strong finish to Big Tech earningsAmazon injected markets with a bit of optimism after posting strong results Thursday.
Source: startelegram - 🏆 248. / 63 Read more »

‘Big Short’ Michael Burry takes a victory lap after calling the tech-led market correctionMichael Burry, best known for calling the subprime mortgage crisis, added a new notch in his belt by predicting the latest market correction.
Source: CNBC - 🏆 12. / 72 Read more »

Tech companies, big bank slash hundreds more Bay Area jobs as layoffs widenTech companies and a big bank have slashed a combined hundreds more jobs in the Bay Area.
Source: mercnews - 🏆 88. / 68 Read more »

U.S. stocks post back-to-back drop as big tech shares tumbleJoy Wiltermuth is a news editor and senior markets reporter based in San Francisco.
Source: MarketWatch - 🏆 3. / 97 Read more »