Big Tech Bets on AI for Future Growth
• Alphabet (GOOG, GOOGL) is gaining traction in AI with a new custom chip to make AI more affordable and accessible. Google Cloud is a growing chunk of revenue.
• Amazon (AMZN) leads in cloud computing, essential for AI apps. Amazon Web Services grew 13% year-over-year in Q4 2023 to $24.2 billion.
• Crowdstrike (CRWD) is gaining cybersecurity market share using AI to address emerging threats like deepfakes. It generated over $3 billion in annual recurring revenue in Q4 2024.
• AI cybersecurity is becoming a battle of AI tools as criminals exploit AI. Crowdstrike's investments in AI aim to keep customers protected.
• Wall Street analysts are bullish on these AI stocks. Average price targets for GOOGL, AMZN and CRWD suggest 6-13% upside from current levels.