Big Tech’s love affair with AI saw no signs of faltering during the latest earnings season. Combined, Amazon, Google, Meta, and Microsoft spent a record of nearly $90 billion on capex last quarter and have promised even bigger spending in the future.
To justify those mammoth expenses, their CEOs spent their earnings releases and calls extolling the virtues of AI and how it’s contributing to their top and bottom lines.
Here’s what they had to say.
Amazon CEO Andy Jassy
Mentions of “AI” on earnings call: 39
“Our AI progress across the board continues to improve our customer experiences, speed of innovation, operational efficiency, and business growth, and I’m excited for what lies ahead.”
Alphabet CEO Sundar Pichai
Mentions of “AI” on earnings call: 86
“Q2 was a standout quarter for us with robust growth across the company. As you saw at I/O, we are leading at the frontier of AI and shipping at an incredible pace. AI is positively impacting every part of the business, driving strong momentum.”
Microsoft CEO Satya Nadella
Mentions of “AI” on earnings call: 51
“It was a very strong close to what was a record fiscal year for us... The rate of innovation and the speed of diffusion is unlike anything we have seen. To that end, we are building the most comprehensive suite of AI products and tech stack at massive scale.”
Meta CEO Mark Zuckerberg
Mentions of “AI” on earnings call: 72
“On advertising, the strong performance this quarter is largely thanks to AI unlocking greater efficiency and gains across our ad system... AI is significantly improving our ability to show people content that they’re going to find interesting and useful.”
Even Apple, which historically has lagged far behind its Big Tech peers in AI spending, committed to opening up its giant wallet for AI.
Apple CEO Tim Cook
Mentions of “AI” on earnings call: 26
“We see AI as one of the most profound technologies of our lifetime. We are embedding it across our devices and platforms and across the company. We are also significantly growing our investments.”
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