Leaders at Microsoft and Meta told investors that China’s DeepSeek doesn’t harm their businesses and that they will still spend billions on AI data centers.
(Reuters) -Investors punished Microsoft with a 6% share drop on Thursday as hefty AI bets failed to drive a big increase in its cloud revenue, while Meta rose 4% after CEO Mark Zuckerberg assured Wall Street about growth with promises of a "really big year".
Mark Zuckerberg said this year will be a "defining" year for AI, announcing plans to spend over $60-$65 billion in capital expenditures.
Meta's Mark Zuckerberg has moved to encourage optimism after DeepSeek’s AI models sent out multiple shockwaves that rocked Wall Street.
Both Meta and Microsoft committed to huge investments in artificial intelligence, despite new Chinese software outperforming American rivals at a lower cost.
The tech giants are keeping capital spending plans in line as DeepSeek raises questions about future computing needs.
January saw Meta, Amazon, Microsoft announce layoffs. With China growing influence in the AI space, and Donald Trump at the helm in the US, what lies ahead for the tech industry in 2025?
The race is on to build the fastest, most efficient AI models and hopefully tech companies will start developing the products we want to use.
Artificial intelligence stocks were moving higher today as earnings season kicked into full swing and as investors continue to digest the impact of DeepSeek on the AI sector. The