# Wall Street wants more proof that Big Tech’s enormous spending on artificial intelligence will pay off.

*genai · news · 2026-05-04 · ABC17News.com*

## Key points

- Alphabet reported a $460 billion backlog for cloud contract services linked to AI growth.
- Meta plans to increase AI spending by at least $10 billion but lacks cloud service revenue.
- Wall Street is shifting from cheering AI spending broadly to demanding concrete monetization results.
- Alphabet shares surged 10% after earnings, while Meta shares dropped almost 9% for lacking AI payoff.

**Companies:** Amazon, Alphabet, Meta, Microsoft
**Countries:** United States

[Read the full story on ABC17News.com](https://abc17news.com/money/cnn-business-consumer/2026/05/04/big-techs-massive-spending-is-back-in-focus-on-wall-street/)

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