Amazon Increased Revenue, but Investors Punished Its Artificial Intelligence Plans
Amazon reported a 14% year-over-year increase in net revenue for the fourth quarter to $213.4 billion, driven by higher customer spending and cloud growth, yet its stock plummeted due to plans for a more than 50% increase in capital expenditures to around $200 billion.
Google's parent company Alphabet's earnings surpassed expectations
Google's parent company Alphabet reported a profit of $34.5 billion for the last quarter, surpassing market expectations and experiencing a 48% revenue growth in its cloud services sector.
Microsoft appoints new head for the Baltic States and Ukraine region
Microsoft has appointed E. Kachanovskis as the new regional head for the Baltic States and Ukraine, focusing on strengthening cybersecurity, accelerating secure cloud deployment, promoting responsible AI use, and developing digital skills for long-term economic growth.
Microsoft suffers $357 billion rout over AI spending fears
Microsoft experienced its largest stock decline in over five years, with a 10% drop this week due to concerns over record AI spending and slowing growth in its cloud business.