Microsoft, Amazon, and Alphabet Emerge as AI Winners as Market Caps Surge by More Than 2 Trillion Won
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- 2026-08-01 05:46:41
- Updated
- 2026-08-01 05:46:41
The interim results of the AI race are in. With second-quarter earnings now being released, the early winners and losers are starting to take shape.
CNBC reported on July 31 local time that the fortunes of six major tech stocks are diverging, with Microsoft (MS), Amazon, and Alphabet Inc. taking the lead in the opening round. The three are the top cloud providers. They are representative hyperscalers that deliver cloud services to third parties through massive data centers.
Microsoft's market capitalization rose by more than $600 billion this week, while Amazon and Alphabet Inc. each added more than $400 billion.
Together, the market value of the three cloud giants increased by nearly $1.5 trillion, or about 2,167 trillion won, in just one week.
By contrast, Meta Platforms, which recently announced plans for third-party services, lost about $85 billion in market value over the same period. Its shares jumped 3.3% on the day, but they had plunged 8% the previous day, the day after its earnings release.
Apple was the biggest laggard, with more than $350 billion wiped off its market capitalization. Apple, whose stock had been rising because its late start in AI investment had ironically become a positive factor, has fallen sharply around its earnings announcement. In particular, Tim Cook, the outgoing CEO, raised serious concerns about memory shortages, and the stock took a hard hit.
Tesla saw about $7 billion erased from its market value after heavy AI investment pushed spending higher and turned free cash flow (FCF) negative.
Jason Greenberg, co-head of global technology at Jefferies, said profitability has separated the winners from the losers.
He noted that AI spending announced by major tech companies will reach $800 billion over the next 12 months, adding that investors are focusing on whether such massive investments are supported by long-term demand strong enough to generate returns.
[email protected] Song Kyung-jae Reporter