Microsoft's Azure AI services saw a 30% increase in usage, contributing to a 12% rise in cloud revenue for the quarter.
Asian stocks rebounded on AI optimism, with technology shares leading gains.
Nintendo's profits disappointed investors.
Samsung Electronics extended gains up to 10% driven by memory chip performance, leading Asian tech rebounds.
Palantir Technologies shares rose in after-hours trading after issuing a stronger-than-expected revenue forecast.
The AI boom is eroding Apple’s supply chain advantage as AI hyperscalers aggressively bid for chips, memory, and components, driving up DRAM and NAND costs and pressuring Apple's margins.
Alphabet (GOOGL) and Amazon (AMZN) earnings reports are anticipated this week, following strong recent revenue growth, alongside AMD, Qualcomm, and Palantir expected to signal AI-related demand durability in chips, cloud, and software.
Tech stocks boosted by AI spending announcements from Meta, with potential investments from Nvidia ($20B), Amazon ($10B), and Microsoft.
Microsoft’s demand backlog doubles to $625 billion due to OpenAI, though spending and revenue growth concerns investors.
Meta beats Q4 revenue expectations, with Zuckerberg predicting major AI acceleration in 2026 and up to $135 billion capex.
Apple reports blowout Q1 results, highlighting strengths despite AI challenges.