Silicon Republic April 26, 2024
Both companies attributed their recent gains to their AI focus, while their dominance of the cloud market continues to grow.
AI continues to be a boon for some of its biggest adopters, as both Microsoft and Google parent company Alphabet have reported strong quarterly growth.
Microsoft’s third fiscal quarter ended 31 March saw revenue reach nearly $62bn, an increase of 17pc for the tech giant compared to last year. Meanwhile, the company’s net income was $21.9bn, with a year-on-year growth of 20pc. Microsoft’s operating income and diluted earnings per share also rose by 23pc and 20pc respectively.
Microsoft was one of the key backers of OpenAI, the company behind ChatGPT which propelled the global AI surge. The company has brought...
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