Alphabet, Microsoft earnings show hefty AI bets are driving growth

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Alphabet surged 10% and closed with a stock market value above $2 trillion for the first time, according to LSEG data, after the company sweetened the pot for investors with its maiden dividend and a $70 billion stock buyback. She added near-term AI demand was a bit higher than the company’s capacity, which held back growth in the quarter and highlighted the need for spending to expand its infrastructure.

“This quarter illustrated how demand remains high for generative AI from Microsoft customers, and we continue to believe that Microsoft sits as a leader in this GenAI environment,” D.A. Davidson analyst Gil Luria said.

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