Big tech splurge on AI
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Amazon, Google, Microsoft, and Meta reported a combined total of $58.5B in the June quarter.
Investment is mostly towards data centers powered by Nvidia's AI systems.
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Amazon had the worst performance, projected earnings were also disappointing as the main focus was on AWS cloud.
Intel performed 80% below Wall Street projections, revenue dropped 3% in data center.
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Nvidia is still the most stable player in the AI race.
Nvidia provides the "picks and shovels" AI chips powering data centers, fueling the AI gold rush that big tech companies are pouring money into.
So no matter what tech company wins the AI race, Nvidia wins :)
