Alphabet, Microsoft earnings show hefty AI bets are driving growth

Alphabet and Microsoft ignited a rally in technology stocks on Friday with earnings that showed big AI investments were driving growth, allaying doubts that their costly bets would take time to pay off after a soft forecast from Meta Platforms.
Alphabet rose 10%, crossing $2 trillion in market value with a gain of about $180 billion as it sweetened the pot for investors with its maiden dividend and a $70 billion stock buyback.