Microsoft, Meta, and Google just announced billions more in AI spending. Only Google convinced investors it’s paying off.

Man wearing a suit and tie and glasses (Credit: Photo by Ludovic MARIN / AFP via Getty Images)

Alphabet, Meta Platforms, and Microsoft just broke the news to investors that they’ll be spending billions more on the AI race. But only some investors saw red in response. 

Meta’s stock dropped more than 6% after hours, while Microsoft was essentially flat. Conversely, the share price of Google parent Alphabet rose almost 7% in after-hours trading.