The Cloud Rises And AI Pays Off — 3 Takeaways From Techs Big Earnings Week
Ai and cloud in spotlight as big tech earnings roll out. Amazon chief executive andy jassy predicted that generative ai will drive “tens of billions in revenues”. The three tech giants are vying to increase their shares of the cloud. On thursday's earnings call, amazon ceo andy jassy painted a particularly bullish outlook for ai in amazon web services, whose revenue grew by 19% year over year, to $27. 5 billion. Ai is impacting alphabet's business in a number of visible ways, according to william blair analyst ralph schackart.
Read more about the big themes that emerged during earnings week: The cloud rises and ai pays off — 3 takeaways from tech's big earnings week. The azure cloud computing unit saw 29% growth, below the projected 31%. A year earlier, it accounted for 11%. For amazon, its cloud. This week will bring earnings from microsoft, apple, amazon, and meta, in what could be the biggest week of this earnings season. Big moves in their stocks.