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Wall Street investors and almost anyone who’s tracking the progress of the generative AI boom is waiting to see what sort of quarterly earnings tech giants Microsoft and Alphabet post after the market close today. Many are hoping to see both companies put big topline growth figures on the board due to sales of AI-enhanced products and cloud services. Analysts think Microsoft could see 15% revenue growth and an almost 19% earnings jump, largely due to more companies using its AI cloud services and its new AI-enhanced software tools. That would be a significantly large increase for such a giant company. On the other hand, if both companies disappoint, it may feed into concerns the AI boom is overhyped.
