Google, Microsoft Earnings to Test Strength of AI Stock Boom
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Investors are about to get fresh insight into the robustness of the AI boom, with Alphabet, Microsoft, Amazon and Meta all due to announce results Wednesday. Apple will report a day later during the busiest week of this earnings season.
Concern over whether vast investments in AI will pay off dragged down US tech firms overnight, with the Nasdaq 100 losing 1%. A report that OpenAI failed to meet its own goals for new user acquisition and sales fueled worries the firm may struggle to support its AI infrastructure spending. Stocks remained lower even as the ChatGPT creator said its consumer and enterprise businesses are “firing on all cylinders.”