Alphabet and Microsoft Climb; AI Spending Sends Meta Lower

Today's biggest winners and losers in the stock market.On this episode of Stock Movers:- Alphabet (GOOG) shares are higher this morning after the Google parent reported first-quarter results that beat expectations on key metrics. Analysts were especially positive on the company’s Search and Cloud businesses. - Meta (META) shares are leading to the downside after it raised its spending outlook for the year, projecting full-year capital expenditures of $125 billion to $145 billion, driven by its AI strategy and higher component pricing. The increase in spending sent shares sliding, with investors expressing concerns that the investments may not pay off, as Meta's AI system still trails its peers.- Microsoft (MSFT) is moving to the upside after it said cloud computing revenue and spending on AI infrastructure will accelerate this year, with Azure cloud unit sales expected to increase about 40% in the current quarter.- Amazon (AMZN) is lower as it reported it is spending at a rapid rate to expand data center capacity to meet the intense demand for artificial intelligence computing power, fueling the fastest quarterly sales growth for its cloud unit in more than three years.See omnystudio.com/listener for privacy information.