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✓ Published: 30-Apr-2024
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✓ Published: 30-Apr-2024
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Strong results from Microsoft and Alphabet have reignited investor confidence in big tech's expensive bets on artificial intelligence tools. Alphabet's shares surpassed a $2 trillion market cap for the first time on Friday, while Microsoft reached just over $3 trillion. Outperformance from major AI players like Microsoft, Alphabet, and Tesla helped lift the S&P 500 and Nasdaq to their best weekly gains of 2024. Executives said real-world demand and capital investment validate the potential of AI, not just hype around the technology.
Strong results from Microsoft and Alphabet have reignited investor confidence in big tech's expensive bets on artificial intelligence tools. Alphabet's shares surpassed a $2 trillion market cap for the first time on Friday, while Microsoft reached just over $3 trillion. Outperformance from major AI players like Microsoft, Alphabet, and Tesla helped lift the S&P 500 and Nasdaq to their best weekly gains of 2024. Executives said real-world demand and capital investment validate the potential of AI, not just hype around the technology.
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