Big Tech is about to run a two-day gauntlet featuring some of the market’s heaviest hitters. Netflix and SpaceX report after the closing bell today. Meta and Tesla follow on Wednesday. All four are, in their own ways, expensive growth stories, and their earnings arrive at a difficult moment for markets. The AI trade has
Microsoft kept its capital spending forecast unchanged on Wednesday, becoming one of the first data center giants to maintain control of the industry’s rampant AI spending. Shares rose about 8% on the news. Earlier this year, the company said it planned to spend $190 billion on capital expenditures this calendar year. On Wednesday’s earnings call,
Google’s latest earnings call offered a familiar message: AI is driving growth and also getting more expensive. On Wednesday, Alphabet reported second-quarter revenue of $119.8 billion, up 24% from a year earlier, while Google Cloud posted another successful quarter as businesses rushed to adopt AI. At the same time, executives made clear that the company
