Tech giants Google, Meta, Microsoft, Amazon, and Apple all mentioned AI in their recent earnings calls. Among them, Google mentioned AI 65 times, up 828 percent compared to Q1 2022. Overall, mentions of AI were up by 427 percent year-over-year in Q1. Is the AI boom real or is this the start of a new bubble?
How AI Has Been Driving Stock Market Performance in 2023
AI has been one of the catalysts driving the stock market in 2023.
Using data sourced from Statista, we’ve broken down how talking about AI has impacted the stock performance of five of the biggest tech companies in the U.S.
During their most recent earnings calls, tech giants Alphabet ($GOOG), Meta ($META), Microsoft ($MSFT), Amazon ($AMZN), and Apple ($AAPL) all increased their mentions of AI compared to a year ago.
No company talked about AI more aggressively than Google, which had 65 mentions of AI during its Q1 2023 earnings call, up 828 percent from a year ago. Meta (56) and Microsoft (53) also focused on mentioning AI during their Q1 earnings calls, especially compared to Amazon (12) and Apple (4), who decided not to make AI a primary focus.
Using the chart below, you can see how many times AI was mentioned during each company’s Q1 2023 earnings call compared to last year and how stock performance has been impacted since the start of the year.
| Company | AI Mentions Q1 2023 | AI Mentions Q1 2022 | % Change | YTD Stock Performance |
|---|---|---|---|---|
| 63 | 7 | 828% | 36.95% | |
| Meta | 56 | 21 | 167% | 133.22% |
| Microsoft | 53 | 8 | 562% | 37.82% |
| Amazon | 12 | 0 | ∞ | 51.37% |
| Apple | 4 | 0 | ∞ | 43.29% |
Google Q1 2023 Earnings Call: AI Mentions By 828% Year-Over-Year
The best stocks were not shy to talk about AI during their Q1 earnings calls to start the year.
AI was mentioned 65 times by Google in its Q1 2023 earnings call, more than any of the big five tech companies. That number also represented a staggering 828% increase after the company registered just seven mentions of AI in Q1 2022.
Meta was next on the list. Last year, Meta had 21 mentions of AI during its Q1 earnings call but that number jumped to 56 in 2023, a jump of 167 percent.
Not far behind, Microsoft delivered 53 mentions of AI during its Q1 2023 earnings call, up 562 percent from a year ago.
Meanwhile, Amazon had 12 AI mentions while Apple had just four in its Q1 2023 earnings call. Both companies did not have any mentions of AI in 2022.
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