AI companies lose $190 billion in market cap after Alphabet and Microsoft report, ET Telecom
Market Cap: Microsoft, Alphabet, and Advanced Micro Devices experienced a selloff in their stock market value after failing to meet investors' expectations with their quarterly results. The drop in stock prices highlights the high expectations surrounding AI-related companies and the incorporation of AI technology across industries. Alphabet's ad revenue missed expectations, and its spending on data centers for AI competition with Microsoft will increase this year.