Google owner Alphabet's share price drops overnight - have investors had enough of spending on AI?
From a purely business financials perspective, a large part of the reason for the sell-off stemmed from slowing growth in data centres revenue. Google’s cloud business is a huge money driver and posted a 30 per cent increase in revenues, totalling nearly $12bn (£9.6bn).
Alphabet faces scrutiny on AI spending as Google cloud growth slows
Alphabet will face investor scrutiny over its massive spending on AI when it reports earnings on Tuesday, as revenue growth at the Google parent likely slowed in the holiday quarter due to a slowdown in its advertising and cloud businesses.
16hon MSN
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