Palantir CEO Alex Karp took a victory lap over the company’s explosive growth, saying it managed to boost its commercial business using a “miniscule and shrinking” sales team. In the shareholder letter accompanying Monday’s second-quarter results, Karp said it was another case of Palantir ignoring the norms of growing a business. “On a quarter-by-quarter basis,
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,
Many Americans are very concerned about AI. Can Mark Zuckerberg change his mind? That’s what Meta’s CEO is trying to do, through a persuasion campaign: Last week, the company released an ad, set to a David Bowie song, telling viewers to ignore “some people” who don’t like AI. Zuckerberg followed up a Wall Street Journal
Meta Platforms is heading into an earnings report with strong implications for the market’s AI narrative. The social media giant, which will report its latest results after the closing bell on Wednesday, is among the AI ”hyperscalers” spending hundreds of billions on the technology, and such high spending isn’t being greeted with great enthusiasm by
The bill for Google’s AI overspending is yet to come. Google said Wednesday that its second-quarter free cash flow turned negative by $5.9 billion, as the company’s capital spending continues to rise. It’s the first time the company has reported negative free cash flow in decades, according to AlphaSense, a sign of how much money
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
