SerpApi.Org
Big Tech earnings season kicked off Wednesday with Google (GOOG, GOOGL) and Tesla (TSLA) reporting after the bell. Intel (INTC) will follow on Thursday.
Tesla (TSLA) reported mixed second-quarter results; however, its cash burn rate was less than expected. Investors may be looking for more on its physical AI buildouts.
Tesla reported Q2 revenue of $28.24 vs. $26.32 billion per Bloomberg consensus, up 26% from a year ago. Tesla posted adjusted EPS of $0.33 vs $0.50 estimated. Adjusted EBITDA came in at $3.273 billion vs $4.0 billion expected.
Google parent Alphabet (GOOG, GOOGL) beat Wall Street's expectations on the top and bottom lines as cloud revenue increased 82% year over year.
Intel's stock has been riding the AI data center growth story to new highs, though it's since come off those highs as traders rotated out of the semiconductor sector. But it could get another boost if the company announces any new customers for its foundry business.
On Thursday, AMD (AMD) will host its Advancing AI event in San Francisco, where it's expected to announce updates to its product lines across its data center unit.
