Alibaba released its first-quarter results for the period ended March 31, missing revenue targets but showing robust expansion in artificial intelligence services. The company highlighted continued momentum in its cloud business driven by AI demand.
Revenue came in at $35.28 billion, below the $36.36 billion expected by analysts. Reported earnings per share reached $1.52, exceeding the projected $0.56 for reported EPS and $0.84 for adjusted EPS.
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Nvidia Corporation reported stronger-than-expected results for its fiscal fourth quarter of 2026, with revenue rising 73% year-over-year to $68.1 billion. The company's data center segment, fueled by products like Blackwell and NVLink, now accounts for over 90% of total revenue. Asian markets climbed for a fourth straight day, boosted by Nvidia's upbeat sales forecast.
Alibaba Cloud has announced price increases ranging from 5 to 34 percent. The hikes are due to growing AI demand and rising hardware costs.
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Europe's largest software maker SAP reported six percent revenue growth to 9.6 billion euros in Q1 2026, driven by cloud software revenues. CEO Christian Klein highlighted momentum in artificial intelligence. The company expects only moderate growth for the full year.
Microsoft has outlined a $190 billion capital expenditure budget for artificial intelligence in fiscal year 2026. The plan highlights ongoing heavy investments in AI amid competitive pressures in the sector. Analysts express caution over the sustainability of such spending.
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American International Group posted robust first-quarter results, with adjusted earnings per share of $2.11, surpassing estimates by $0.23. The insurer showed improved profitability and underwriting resilience amid market concerns. Shares have declined about 9% over the past year despite the positive performance.
Samsung Electronics confirmed record Q1 sales of 133.87 trillion won and operating profit of 57.23 trillion won on April 30, slightly beating its earlier guidance of 133 trillion won in sales and 57.2 trillion won in OP. The results, up 69% and 756% year-on-year, were fueled by AI-driven memory chip demand, with net profit jumping over fivefold to 47.22 trillion won.
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Investor jitters are growing in the US as AI reshapes expectations, but China's markets have so far reacted with caution rather than panic. Artificial intelligence is already reshaping industries and markets, even though artificial general intelligence (AGI) has yet to be achieved. China's tech stocks have largely held steady amid recent domestic AI advancements.