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Big Tech’s AI Spending Surpasses $1 Trillion as Investors Seek Returns
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DMR News
Consumer AI Tools Generate Limited Direct RevenueMajor technology companies have introduced consumer-facing AI assistants since OpenAI released ChatGPT in late 2022.
Google offers Gemini, Meta operates Meta AI, Amazon has Rufus, and Apple is preparing a redesigned version of Siri.
Meta reported revenue of $60.8 billion and free cash flow of $784 million.
Investors responded more favourably to companies that connected their AI spending with existing business growth.
Microsoft shares rose after the company reported higher adoption and revenue from its AI and cloud products.