Wall Street sees Big Tech AI spending starting to pay off

Industry Impact 4
โดย Yahoo Finance·US·Read original
Summary · why it matters

Wall Street strategists see signs that Big Tech's massive AI spending is starting to pay off, particularly for megacap hyperscalers and their cloud businesses. JPMorgan analysts lifted their S&P 500 price target to 8,000 from 7,800, citing strong earnings, upward guidance revisions, and strong cloud demand. Microsoft saw record cloud revenue last quarter as Azure topped $100 billion in annual sales for the first time, while Amazon's AWS growth hit 36.7%, its fastest in 18 quarters. Cloud computing backlogs among the top four providers now exceed $2.3 trillion, up 16% from the first quarter, according to Bank of America research. Alphabet, Amazon, Microsoft, and Meta are collectively projected to allocate roughly $725 billion to $760 billion to capital expenditures this year to help build AI.

Impact on stocks 7

Artificial Intelligence▲ · 5 stocks
Amazon.com Inc
AMZN
▲ PositiveDemandrelevance

AWS growth hit 36.7%, fastest in 18 quarters, indicating strong cloud demand.

Meta Platforms Inc.
META
▲ PositiveCapitalrelevance

Meta is projected to allocate significant capex to AI, with analysts seeing payoff.

Financials▲ · 1 stocks
Digital Finance & Tokenization▲ · 1 stocks

Theme Impact 3

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