While Google reportedly races to develop a new AI-powered search engine, Meta is shifting its ad-sales pitch from a focus on the metaverse to artificial...
AI is the dominant storyline — make that only storyline — as two of Big Tech’s biggest players prepare to announce quarterly results next week.
While Alphabet Inc.’s GOOGL GOOG Google reportedly races to develop a new search engine powered by AI, Meta Platforms Inc. META is changing its sales pitch to advertisers from a focus on the metaverse to artificial intelligence to drum up short-term revenue. Meta is expected to make an announcement around its plans next month.
Google, by comparison, is expected to haul in $71.5 billion in 2023, up 2.9% from $69.5 billion in 2022. Ad sales are expected to increase 6.2% to $75.92 billion in 2024. Like Meta, Google is rumored to be planning more layoffs soon. “AI is the most profound technology we are working on today,” Alphabet Chief Executive Sundar Pichai said during the company’s last earnings call in January, according to a transcript provided by AlphaSense/Sentieo.Google’s AI pivot is primarily motivated by the potential loss of Samsung Electronics Co. 005930 as a default-search-engine customer to rival Microsoft Corp.’s MSFT Bing.
Cowen analyst John Blackledge says a first-quarter call with digital ad experts this month suggests continued pricing weakness for Meta, with Google in better shape on the strength of its dominant search engine. He expects Meta to report ad revenue of $27.3 billion for the quarter, up 1% from the year-ago quarter and up 4.2% from the previous quarter. Snap, which is forecast to report a revenue drop of 6% when it reports next week, recently launched an AI chatbot as well.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alphabet shares fall on report Samsung may dump Google Search for BingAlphabet Inc shares fell nearly 4% on Monday after a report that South Korea's Samsung Electronics was considering replacing Google with Microsoft-owned Bing as the default search engine on its devices.
Read more »
Alphabet stock price falls on report Samsung considering replacing GoogleAlphabet loses $55 billion in market value after Samsung reportedly considers replacing Google with Bing in its phones
Read more »
2023 Layoff Tracker: Latest Meta Cuts Could Hit 4,000Amazon, Alphabet, Meta, Salesforce and Disney have all slashed staff this year, citing cloudy economic forecasts.
Read more »
Stocks making the biggest moves midday: Alphabet, Charles Schwab, State Street, Moderna and moreThese are the stocks posting the largest moves in midday trading.
Read more »
Porn on Amazon's Kindle app prompts warnings from Apple, AlphabetApple Inc and Alphabet Inc have raised concerns with Amazon.com Inc after learning that sexually explicit photographs could be accessed by children on the popular Kindle app and called on Amazon to strengthen its content moderation.
Read more »
Alphabet shares dip to start the week. Here's what the experts have to sayAnalysts and investors took to CNBC to discuss the latest action for Alphabet shares.
Read more »