Technology giants that want to spend big on artificial intelligence and stay in the good graces of investors should take a page out of Meta Platforms Inc.’s playbook.
Brad Erickson, internet analyst at RBC Capital Markets , joins BNN Bloomberg to discuss if Meta's AI focus is paying off.
“It was his best earnings call as a public CEO,” said Gene Munster, managing partner of Deepwater Asset Management. “He explained the near-term benefits of AI, the long-term benefits and the timing of how all this is going to play out. And he did it in a compelling way.” At the same time, investors have grown more critical of spending by other Big Tech companies. Shares of Google-parent Alphabet have underperformed in the wake of its earnings report last month, which showed higher-than-expected capital spending even though profit and revenue beat estimates. Similar can be said of Microsoft, after its results highlighted slowing growth in the Azure cloud-computing business.
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