Alphabet, Meta, Microsoft and Amazon reported first-quarter results this week that underscored diverging investor reactions to an escalating industry-wide AI buildout. Alphabet topped estimates with revenue of $109.9 billion and Google Cloud posted a record 63% jump to about $20 billion; its cloud backlog nearly doubled to roughly $460–462 billion and the company has begun selling TPU chips directly to customers. Alphabet raised its 2026 capex guidance to about $180–190 billion. Meta also beat revenue estimates ($56.3 billion) but raised its 2026 capital expenditure forecast sharply to $125–145 billion, while Reality Labs again lost roughly $4 billion, prompting a 5–7% fall in Meta shares. Amazon Web Services grew 28% to $37.6 billion and flagged continued heavy infrastructure spending; Microsoft’s cloud rose about 40% as it outlined roughly $190 billion in outlays. Collectively the big cloud players’ AI infrastructure plans now exceed $700 billion-$725 billion for the year. Markets rewarded firms showing clear AI-driven revenue gains (notably Alphabet), while investors punished companies seen as burning cash without clear near‑term returns.

Meta Platforms told investors on April 29-30, 2026 that it is raising its 2026 capital expenditure outlook to $125 billion–$145 billion, up from a prior range of $115 billion–$135 billion, driven by higher component and memory prices and additional data‑centre buildout for artificial intelligence. The company reported first‑quarter revenue of $56.31 billion and net income of about $26.8 billion, with Family Daily Active People at 3.56 billion. Reality Labs posted roughly a $4 billion operating loss for the quarter. Meta warned of legal and regulatory risks, including ongoing U.S. youth‑safety trials and China’s order to unwind its Manus acquisition, and signalled further workforce reductions around mid‑May (roughly 10%). Shares fell in after‑hours trading (about 5–7% depending on venue) as investors weighed the larger AI bill; the move came the same week Alphabet, Microsoft and Amazon also reported strong AI‑related results. Meta said it is installing tracking software on U.S. employees’ computers to capture usage to train AI models and is striking multiple compute and chip deals to meet rising demand.

Oil prices surged sharply on April 29–30, 2026, after reports that the White House was preparing for an extended US blockade of Iranian ports. Brent crude climbed from about $116–$119 on April 29 and, according to several outlets, topped $122 a barrel on April 30 — its highest level since 2022. US West Texas Intermediate traded above $103–$107 in the same period. The rise followed reports the president had instructed aides to plan a prolonged blockade and held talks with major oil executives, including Chevron’s CEO, about mitigating domestic fallout. Iran has continued to restrict traffic through the Strait of Hormuz in response, effectively bottling a significant share of global seaborne oil flows. Traders and analysts warned of strained storage, higher fuel costs and further market volatility; ratings agencies and institutions have flagged rising inflationary pressures and downside risks to growth. OPEC+ is considering only modest output increases while the UAE’s planned withdrawal from OPEC complicates supply-side responses.

Microsoft reported a robust fiscal third quarter on April 29, with revenue of $82.9 billion, driven by Microsoft Cloud revenue of $54.5 billion and Azure growth of about 40% year‑on‑year. The company said its AI business has surpassed a $37 billion annual run rate and Microsoft 365 Copilot paid seats exceed 20 million. Microsoft posted quarterly capital expenditures of $31.9 billion (up 49% year‑on‑year) and guided to roughly $40 billion of capex in the fiscal fourth quarter, while unveiling an unprecedented $190 billion of planned capital spending for calendar 2026. Management flagged ongoing capacity constraints, cited higher component costs as part of the spending, and said it has broadened AI partnerships — adding Anthropic and revising terms with OpenAI that remove exclusive resale rights. The results beat EPS estimates and mostly matched revenue expectations; shares fell more than 2% in after‑hours trading before settling. Microsoft also signalled organisational changes and cost measures including employee buyout offers as it scales AI infrastructure and products.

On April 29, 2026 Ford Motor Co reported stronger-than-expected first-quarter results, posting $43.3 billion in revenue and $3.5 billion of adjusted EBIT. GAAP diluted EPS was $0.63 and adjusted EPS $0.66. Management raised full-year adjusted EBIT guidance to $8.5 billion–$10.5 billion, citing improved mix, pricing, growth in software and physical services and cost actions. Results included a $1.3 billion one‑time IEEPA tariff benefit (which would leave adjusted EBIT near $2.2 billion excluding the item). Ford Pro and Ford Blue drove profitability while Model e posted an EBIT loss of about $777 million, narrowing year‑on‑year. Management said Novelis aluminium production is expected to restart and ramp in the second half, and Ford ended the quarter with roughly $22 billion cash and about $43.1 billion of total liquidity. Adjusted free cash flow was a use of about $1.9 billion; the company declared a $0.15 Q2 dividend and reiterated restructuring and EV investment plans.