Microsoft, Alphabet and AMD Struggle to Meet AI Expectations
- Earnings disappoint investors despite companies’ AI inroads
- The shares had been bid up to record highs in recent weeks
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Microsoft Corp., Alphabet Inc.’s Google and Advanced Micro Devices Inc. — three companies working harder than nearly anyone to weave artificial intelligence into their products — are finding that investor expectations for the technology are hard to meet.
Shares of the tech giants slipped in New York trading on Wednesday, the day after they delivered results for the last three months of 2023 and forecasts for the current quarter. Microsoft dropped as much as 1.6%. Google fell as much as 6.7%, and AMD slid 5.5%.