Alphabet, Microsoft Shares Jump as Investors Cheer AI Investment

April 26, 2024 ⚊ 1 Min read ⚊ Views 31 ⚊ BLOG

That contrasts with a more than 10% slide in Meta shares on Thursday, after the social media firm signalled its costly bet on AI could take years to pay off.Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence across its cloud services.Alphabet announced its first-ever dividend on Thursday and a $70 billion stock buyback, after beating expectations for the quarter in sales, profit and advertising.

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