Tech giants Microsoft and Google have splashed out on generative AI, with their cloud computing arms seeing a surge in demand as clients fork out for the pricey computing power that fuels the technology.
Microsoft has raced ahead in the AI game, pumping money into ChatGPT-maker OpenAI and pushing AI across products while others lag.
The company said sales soared to $62 billion for the October to December period, up 18 percent year-on-year and above the $61.1 billion expected by analysts.
The AI frenzy has helped Microsoft overtake Apple as the world’s biggest company by market value at more than three trillion dollars. The company’s share price is up 70 per cent from a year ago.
Microsoft’ resident Software King of the World Satya Nadella said “We’ve moved from talking about AI to applying AI at scale.”