Technology corporations record positive business results

VTV.vn - Artificial intelligence (AI) was once again the leading factor helping to drive the results of these corporations up in the last quarter.

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Immediately after trading opened in the US market, the three tech giants, Meta, Microsoft, and Alphabet, released their quarterly earnings reports, with their latest quarterly revenue and profits all exceeding Wall Street's expectations.

Alphabet, Google's parent company, received the most positive reaction to the report. For the first time in history, the company recorded total revenue exceeding $100 billion in the third quarter. Notably, its cloud computing business continued to experience impressive growth of 34%, driven by strong demand for artificial intelligence (AI) – a driving force behind the recent surge in the company's stock and that of many other tech giants.

Alexander Morris of F/M Investments said: "AI is the leading driver of market upward movement, potentially even disregarding other important data such as jobs or interest rates. As long as the promise of AI's potential for the economy remains viable, stocks can continue their upward trend."

The high demand for AI has also prompted Alphabet to further increase its capital spending plan this year, from the previous figure of $85 billion to between $91 and $93 billion, to expand its data center capacity and cloud infrastructure.

Similar to Alphabet, Microsoft also recorded better-than-expected results thanks to momentum from its cloud computing segment, with growth reaching 40%. However, the investment in OpenAI resulted in a loss of over $3 billion, indicating increasing pressure from investment costs in the AI ​​sector.

However, the positive news is that the company has just reached an agreement to convert the investment into a 27% stake as OpenAI transitions to a corporate model, along with a commitment of $250 billion to further expand the use of Azure cloud services.

Also released after last night's trading session, Meta's report was a major disappointment for investors. This caused Meta's stock price to plummet by 9% in after-hours trading. Although revenue and profit still exceeded forecasts, Meta also had to record a one-time income tax expense of nearly $16 billion due to the impact of the new US tax law.

Similar to the two aforementioned companies, Meta is also actively investing in AI infrastructure, with capital spending exceeding $70 billion this year and expected to increase next year, demonstrating the giant's long-term commitment to the AI ​​sector, despite recent losses.

Source: https://vtv.vn/cac-tap-doan-cong-nghe-ghi-nhan-ket-qua-kinh-doanh-tich-cuc-100251030154346039.htm