FT News Briefing Big tech continues to rock
Feb 2, 2024
Meta has declared its first dividend and a massive share buyback, showcasing its financial maturity. Meanwhile, significant geopolitical moves are happening as the US imposes sanctions on Israeli settlers in the West Bank. Tesla’s Elon Musk is grappling with legal hurdles over a controversial pay deal, and shareholders may face decisions about the company's future in Texas. Additionally, a €50bn support package for Ukraine has been agreed upon by the EU, highlighting the ongoing intersection of business and politics.
AI Snips
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Big Tech Defies Slowdown
- Big tech earnings show strong momentum, defying slowdown predictions.
- Revenue growth and cloud businesses are exceeding expectations.
AI's Uneven Impact
- AI's impact is currently limited to Microsoft, through their OpenAI partnership.
- Other companies are investing but have yet to see revenue from AI.
Challenges for Tech Giants
- Apple's sales slump in China raises concerns due to competition and rising tensions.
- Google and Amazon, despite growth, face questions about market share and advertising strength.