Alphabet, Meta and Microsoft all reported earnings after the bell on Wednesday

Wall Street was shaken up by Silicon Valley heavyweights overnight as a trio of Big Techs laid bare the cost of their AI strategies.

Alphabet, Meta and Microsoft all reported earnings after the bell on Wednesday, offering investors a glimpse into the now trillion-dollar race to lead the AI boom.

But, while Alphabet, Google’s parent company, soared past expectations with a record-breaking quarter, its rivals faced a tougher crowd.

The Nasdaq fell one per cent at Thursday’s open as traders digested the mixed results. Meta’s stock tumbled over 12 per cent in after hours trading, wiping $155bn off its market cap, one of its biggest single day hits on records.

Meanwhile, Microsoft slipped by just below three p

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