Microsoft chief executive Satya Nadella and Meta’s Mark Zuckerberg have unsuccessfully attempted to allay fears of an artificial intelligence bubble, with investors seemingly rejecting their claims that increased spending on infrastructure is simply targeting insatiable demand.
The biggest morning of US quarterly technology earnings was a chance for investors to question chiefs at Microsoft, Meta and Google parent company Alphabet about soaring global AI investment, but it started disastrously for Microsoft when a global outage of its Azure cloud computing services disrupted airlines and online services.
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