Tech's Maleficent Seven discover the AI in pain

Investors are spooked as Microsoft and Google reveal they're spending $350 million a day in the race to win the AI and cloud race

It’s quarterly reporting time, when investors, competitors, and nosey parkers like me get to have a good long look at how the Big Tech companies are really doing.

My goodness, I remember back in the day how we in the media were pilloried for using our pages to talk up our businesses, but Big Tech has taken it to new levels.

The spending, the empty promises, the under deliveries, the declining products…

But that’s what reporting season is for. It’s when the truth hits the tech, and when the money once again exposes the monopolies in all their vainglory for the world to gawp.

After a year of staggering valuations, and with AI spending soaring and revenue yet to land, Big Tech’s in the midst of what the wise heads at Reuters call “a bruising selloff”.

The long wait for the promise of AI is beginning to weigh on the cloud.

This is what Big Tech earned and spent on AI every day this quarter. 

Google: $944 million earned daily | $146 million spent daily on AI.

Microsoft: $719 million earned | $211 million spent on AI. 

Investors are flustered. Look at all those ups plunging into downs 👇