The artificial intelligence hen lays billions for Google and Microsoft

The artificial intelligence hen lays billions for Google and Microsoft

Technology giants Google and Microsoft achieved huge revenues in the third quarter of 2023, thanks to the demand for artificial intelligence tools .

The third-quarter revenues of Alphabet, the parent company of Google, exceeded Wall Street expectations, supported by higher advertising spending and resilient demand for cloud services due to increased adoption of artificial intelligence tools. Revenues for the quarter ending September 30 amounted to $76.69 billion, an increase of 11% on an annual basis. Compared to market expectations of $75.97 billion, according to LSEG data, Alphabet’s business results showed that net profit amounted to $19.7 billion for the quarter ending September 30, compared to $13.9 billion in the same period of the previous year. Alphabet achieved revenues from YouTube ads. By $7.95 billion, compared to an expected $7.81 billion. Google Cloud’s revenues in the third quarter rose by 22.5% to $8.41 billion, and Microsoft’s results in the third quarter of the year exceeded Wall Street estimates with the growth of its business in the field of cloud computing and computers amid customer enthusiasm for its products in The field of artificial intelligence. The company’s revenues rose 13% to $56.5 billion in the quarter ending September 30, while estimates had expected $54.52 billion .