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.

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