Tech giants are pouring money into A.I. as they cut costs elsewhere

CNBC April 28, 2023
Kif Leswing

Key Points

– In calls with analysts this week, Alphabet, Microsoft, Amazon and Meta emphasized their hefty investments in large language models.

– Artificial intelligence has been the hot topic in tech since late 2022, when OpenAI introduced its chatbot called ChatGPT.

– “We’ll continue to incorporate generative AI advances to make search better in a thoughtful and deliberate way,” Alphabet CEO Sundar Pichai said on the company’s earnings call.

Tech investors are eager to hear how much industry leaders are bolstering profitability now that they’re in cost-cutting mode.

But there’s one area where they also want to see hefty investments: artificial intelligence.

Alphabet, Microsoft, Amazon and Meta all reported quarterly results this week, updating Wall Street on their efforts...

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