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AI mentions dominate major tech companies’ Q2 calls

Written on Aug 11, 2023

The mention of artificial intelligence (AI) in earnings calls for major tech companies skyrocketed from the first to the second fiscal quarter, according to a report from Reuters. 

The S&P 500 companies that took the lead in discussions surrounding AI included Google’s Alphabet, Intel, Microsoft and Meta, along with others such as Cadence Design, IBM, ServiceNow, Moody’s and Omnicom. 

In Intel’s second-quarter call, AI was mentioned 58 times compared with 15 times in its first-quarter call. Alphabet’s call mentioned AI 62 times and Microsoft’s 58 — both up from 52 and 35 times in previous calls, respectively. 

The Reuters report also reveals that in the first two quarters of the year, the hype surrounding AI contributed to a 37% surge in the Nasdaq. 

While Microsoft — backing ChatGPT’s OpenAI — Meta and Alphabet have been active in the development and deployment of AI systems and tools, Intel has been behind in the AI boom. According to the Reuters report, the company’s data center and AI business jumped by 15% in the last quarter. 

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