Economy

Big Tech earnings surge on AI cloud demand

Meta, Amazon, Alphabet, and Microsoft all reported quarterly results simultaneously on Wednesday, with cloud divisions leading the charge — Google Cloud cracked $20 billion in quarterly revenue for the first time, while AWS beat expectations. The gains come with a catch: all four companies are accelerating capital expenditure on AI infrastructure, leaving investors debating whether the spending will eventually pay off. Amazon CEO Andy Jassy confirmed the heavy investment will continue in the near term.

Sources