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At the APEC CEO Summit, Google CEO Sundar Pichai challenged Microsoft CEO Satya Nadella to a side-by-side comparison of their AI models, responding to Nadella's earlier comments questioning Google's position in the AI race. Pichai emphasized that while Microsoft utilizes OpenAI's models, Google has developed its own advanced LLMs, including the Gemini series, to enhance its AI and search products. The exchange highlights the ongoing rivalry between the two tech giants amid the escalating AI arms race.
Mark Zuckerberg expressed surprise at Meta's rapid investment in AI infrastructure, raising 2024 capital expenditure guidance to between $38 billion and $40 billion. Despite beating earnings expectations, concerns over user growth and rising costs led to a dip in Meta's stock. The Reality Labs unit reported a $4.4 billion operating loss, with anticipated losses increasing in 2024 due to ongoing development efforts.
Alphabet reported strong third-quarter earnings, with earnings per share at $2.12 and revenue of $88.27 billion, surpassing expectations. The company saw a 15% year-over-year revenue growth, driven by cloud revenue and YouTube ads, despite facing antitrust challenges and internal restructuring. Key leadership changes were made to enhance its AI capabilities amid increasing competition.
Emily Chang
People
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