"Alphabet's profit rose 81% as Google's AI investments lifted revenue and pushed its market value towards $4.5 trillion. Revenue climbed 22% to $109.9 billion, both figures well ahead of analysts' forecasts."
"The digital economy, including advertising, cloud computing, and online retail, now accounts for about 15% of global GDP, or roughly $16 trillion, according to the World Bank."
"Together, the figures highlight both the benefits and rising costs of the tech industry's race to lead in AI, as companies navigate strong demand and increased spending."
Alphabet Inc., Amazon.com Inc., Meta Platforms Inc., and Microsoft Corporation reported strong quarterly earnings, fueled by advancements in artificial intelligence and cloud computing. The digital economy now represents about 15% of global GDP, approximately $16 trillion. Alphabet's profit surged 81%, driven by AI investments, while Amazon experienced high demand for cloud services. Meta exceeded forecasts but raised spending, causing investor concern. These results underscore the tech industry's competitive push in AI, highlighting both benefits and rising costs associated with this growth.
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