Investors are preparing for the release of quarterly earnings reports from major tech companies, including Microsoft and Alphabet, which will shed light on the effects of their AI spending. According to recent reports, these earnings will serve as a key indicator of the tech industry's performance and its investment in artificial intelligence.
The reports from Microsoft and Alphabet will be closely watched, particularly in light of their significant investments in AI technology. The earnings reports will also follow recent announcements from other companies, such as UBS logging a near 30% jump in pretax profit for the quarter and Deutsche Bank reporting its third consecutive quarter of record profits.
However, not all companies have fared well, with Robinhood shares sinking after missing earnings expectations. The upcoming reports from Microsoft and Alphabet will provide further clarity on the state of the tech industry and its AI endeavors.
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