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By Staff Reporters
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After its AI-related earnings disappointed Wall Street last quarter, Big Tech doubled down in the latest period:
- Amazon spent $22.6 billion on property and equipment like data centers and chips. That’s an 81% spike from the same time last year.
- Meta raised its low-end guidance for capex (capital expenditures), which could reach $40 billion by the end of the year. It beat earnings estimates, even with AR glasses subsidiary Reality Labs costing $4.4 billion in operating losses.
- Apple is still betting on Apple Intelligence to boost sales. Most revenue came from the new iPhone 16, Apple Watch, and AirPods, but Apple services like TV+ and iCloud also grew massively to account for a quarter of the business.
- Google crushed earnings estimates and revealed that more than 25% of all new code it writes is generated by AI (and reviewed by engineers).
CITE: https://www.r2library.com/Resource/Title/0826102549
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