Tech giants are pouring money into A.I. as they cut costs elsewhere
Publishing timestamp: 2023-04-28 13:16:06
Summary
Tech giants Alphabet, Microsoft, Amazon, and Meta have emphasized their investments in large language models (LLMs) and artificial intelligence (AI) during their earnings calls. They are using generative AI programs to produce outputs that seem like they were made by humans, but require specialized supercomputers that are expensive. The CEOs of these companies talked about their emphasis on large sums of money they'll be spending to build and run these applications. They are using AI to improve their products and services, and they believe that AI will eventually drive revenue growth. They are also investing in their cloud infrastructure, particularly AI-related spend, as they scale to growing demand driven by customer transformation.
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Keywords: sundar pichai, breaking news: technology, business, factset research systems inc, mobile, meta platforms inc, satya nadella, technology, alphabet inc, nvidia corp, science, apple inc, business news, microsoft corp, amazon.com inc,
Source: https://www.cnbc.com/2023/04/28/tech-earnings-calls-show-mega-cap-companies-going-big-on-ai-.html