AI mentions skyrocket in major tech companies' Q2 calls

In earnings calls for the second fiscal quarter for major tech companies, the mention of artificial intelligence (AI) has skyrocketed compared to the previous quarter, according to a report on the topic from Reuters. 

The S&P 500 companies that took the lead in discussions surrounding AI included Google’s Alphabet, Intel, Microsoft and Meta platforms, along with others who increased talks around AI such as Cadence Design, IBM, ServiceNow, Moody’s and Omnicom.

In Intel’s second-quarter call, AI was mentioned 58 times compared to 15 times in its first-quarter call. Alphabet’s call mentioned AI 62 times and Microsoft’s 58 – both up from 52 and 35 times in previous calls, respectively.

Tech companies aside, the Reuters report revealed in the first two quarters of the year the hype surrounding AI has helped create a 37% surge in the Nasdaq.

While Microsoft – backing ChatGPT’s OpenAI-, Meta and Alphabet have been active in the development and deployment of AI systems and tools, Intel has been behind in the AI boom. According to the Reuters report the company’s data center and AI business lumped by 15% in the last quarter.

Related: Inflection AI raises $1.3B in funding led by Microsoft and Nvidia

These numbers confirm trends that can be clearly spotted in the market. Microsoft, Google and OpenAI formed the ‘Frontier Model Forum’ on July 26, in an effort to regulate AI development. 

Only a few days prior to the creation of this Forum by the biggest tech companies in the AI business, this same group with the addition of Meta committed to developing safe, secure and transparent AI to the United States White House.

On July 13, reports circulated that Meta plans to release a commercial version of its AI tools to rival those already on the market from OpenAI and Google. Following this news, Meta and Microsoft announced a collaboration to launch an open-source large language model called Llama 2.

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