Anthropic, OpenAI stakes distort Big Tech earnings picture
When stripping out Big Tech’s investment gains from private AI companies, the earnings story is a lot less bullish.
Microsoft, Amazon and Alphabet booked sizable investment gains in the most recent quarter thanks to stakes in Anthropic and OpenAI, and in one case, SpaceX. But those gains are on paper and don’t reflect underlying growth of the business.
CNBC’s Kate Rooney explains.
