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Large technology companies have said that they are increasing spending on data centers optimized for artificial intelligence.
Nvidia (NVDA 0.43%) got great news from Microsoft (MSFT 1.82%), Alphabet (GOOG 0.27%) (GOOGL 0.22%), and Meta Platforms (META 0.70%), which all signaled increasing spending on artificial intelligence.
*Stock prices used were the afternoon prices of Oct. 30, 2024. The video was published on Nov. 1, 2024.
A Fool since 2019, and a graduate of Cal State LA with a B.S. in Finance and M.A. in Economics. Parkev is an adjunct professor of Finance and enjoys reading about financial and economic history. You'll often find him writing about stocks in the consumer goods and technology sectors.
Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Parkev Tatevosian, CFA has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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