Boosting Investor Confidence in AI Bets, Tech's Trillion Dollar Market Caps

Benzinga
Benzinga
  • 21 days ago
Strong results from Microsoft and Alphabet have reignited investor confidence in big tech's expensive bets on artificial intelligence tools. Alphabet's shares surpassed a $2 trillion market cap for the first time on Friday, while Microsoft reached just over $3 trillion. Outperformance from major AI players like Microsoft, Alphabet, and Tesla helped lift the S&P 500 and Nasdaq to their best weekly gains of 2024. Executives said real-world demand and capital investment validate the potential of AI, not just hype around the technology.

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