The article discusses the growing importance of artificial intelligence (AI) and cloud services for tech giants like Microsoft and Google. It highlights that both companies are investing heavily in AI and cloud computing, with the expectation that these areas will drive significant earnings growth by 2024. The article notes that Microsoft’s Azure cloud platform and AI capabilities are seen as key drivers for the company’s future growth, while Google’s cloud business and AI advancements, such as in natural language processing and computer vision, are expected to fuel its revenue. The article suggests that the race to dominate the AI and cloud markets is intensifying, with both companies positioning themselves as leaders in these areas. It also mentions that the COVID-19 pandemic has accelerated the shift towards cloud computing and AI adoption across various industries, further fueling the demand for these services.
Source: https://www.businessinsider.com/microsoft-google-cloud-ai-earnings-2024-10