How Machine Learning Is Creating Value for Google and Facebook

From smartphones to voice assistants, machine learning and AI techniques are becoming integral in our daily lives. Internet advertising analyst Varun Gupta examines why these technologies are central to Alphabet and Facebook’s success. The views expressed are those of Diamond Hill as of June 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice. As of May 31, 2020, Diamond Hill owned Facebook, Inc. - Class A (equity), Alphabet, Inc. - Class A (equity), Tencent Holdings Ltd. (equity), Berkshire Hathaway, Inc. - Class B (equity), Walt Disney Co. (The) (equity) and Microsoft Corp. (equity). As of March 31, 2020 Diamond Hill owned Netflix, Inc. (debt), Walt Disney Co. (The) (debt), Berkshire Hathaway Financial (debt) and Apple, Inc. (debt). This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.