Nvidia Stock Rises. What Microsoft and Google CEOs Said About Its Chips.
Microsoft and Google-parent Alphabet emphasized their investment in AI technology in earnings reports on Thursday and their chief executives specifically noted their use of Nvidia chips in earnings calls with analysts, although both CEOs said they were using in-house chips as well.
Microsoft Smashes Earnings Expectations—Stock Up 5%
Microsoft’s $2.94 earnings per share topped estimates of $2.82, according to FactSet, and its $61.9 billion in sales topped projections of $60.9 billion. Crucially, Microsoft reported $12.5 billion in operating income in its AI-heavy intelligent cloud division, well above estimates of $12.1 billion.
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