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Nvidia, Meta, and Alphabet Capitalize on AI Boom
Nvidia (NASDAQ: NVDA) dominates the AI GPU market with over 90% market share, primarily driven by its CUDA software platform. CEO Jensen Huang projects AI infrastructure spending to reach between $3 trillion and $4 trillion in the coming years.
Meta Platforms (NASDAQ: META) reported a 22% increase in ad revenue year-over-year, totaling $46.6 billion, fueled by AI-driven user engagement on platforms like Instagram and Facebook. The company is also investing in new advertising opportunities through WhatsApp and Threads.
Alphabet (NASDAQ: GOOGL) has seen search growth accelerate due to new AI features and secured a major court win that preserves its search deal with Apple. Google Cloud revenue rose 32% last quarter, driven by burgeoning AI demand, while the company expands through initiatives like its robotaxi service and quantum computing advancements.
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