# Strong growth at Google Cloud and in its other AI products sent the shares soaring 10 per cent on April 30.

*business · news · 2026-05-03 · The Straits Times*

## Key points

- Alphabet's TPUs will soon be available for customer use in their own data centres.
- Amazon's in-house AI chip business now exceeds a US$20 billion revenue run rate.
- Qualcomm's new data centre chips will be deployed by a major hyperscaler later in 2026.
- Meta and Microsoft's rising capital spending is benefiting semiconductor and memory suppliers with soaring stock gains.
- The Magnificent Seven tech group is on pace for 57% Q1 earnings growth, triple initial estimates.

**Companies:** Alphabet, Apple, Amazon.com, Meta Platforms, Microsoft, Nvidia, Qualcomm, Broadcom
**Countries:** United States

[Read the full story on The Straits Times](https://www.straitstimes.com/business/companies-markets/big-tech-earnings-show-split-between-ai-trade-winners-and-losers)

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