Tech Titans on Investor Calls: Everyone is Going All In on AI because the Opportunity is Unprecedented

From CNBC:

Microsoft Chief Financial Officer Amy Hood, on an earnings call earlier this year, said the software company is “repivoting our workforce toward the AI-first work we’re doing without adding material number of people to the workforce,” and said Microsoft will continue to prioritize investing in AI as “the thing that’s going to shape the next decade.”

Meta CEO Mark Zuckerberg spent much of his opening remarks on his company’s earnings call last week focused on AI products and services and the advancements in its large language model called Llama 3.

“This leads me to believe that we should invest significantly more over the coming years to build even more advanced models and the largest scale AI services in the world,” Zuckerberg said.

At Amazon, CEO Andy Jassy told investors last week that the “generative AI opportunity” is almost unprecedented, and that increased capital spending is necessary to take advantage of it.

“I don’t know if any of us has seen a possibility like this in technology in a really long time, for sure since the cloud, perhaps since the Internet,” Jassy said.

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