Last night, the earnings reports of the four tech giants were released! Only Google surged over 6%, while the other three—Amazon, Meta, and Microsoft—all fell.

From an earnings perspective, Google's monetization path is clear, while the other three are still burning cash like crazy: Google Cloud revenue exceeded $20 billion for the first time, but the other three still face a lot of uncertainty.

Meta: Ad revenue soared 33%, beating expectations, but it also significantly raised its full-year AI data center spending! As a result, the stock plunged over 6% after hours.

Microsoft: Azure cloud growth was 40%, barely meeting targets, but AI Copilot didn't bring explosive revenue. With high capital expenditures, the market feels "AI isn't really making money yet," and the stock fell over 3%.

Amazon: AWS cloud growth was the fastest in three years, but data center spending far exceeded expectations, eating a big chunk of profits, and the stock also turned red.

AI is the future, no doubt, but right now, the giants' hundreds of billions in annual capital spending is like a bottomless pit.

It's not that people don't believe in AI, but they need to see real, tangible returns!

Google has proven that search + cloud can be monetized quickly, while the others are still burning cash waiting for results. Clearly, the market's patience is running out!

The Mag7 momentum is set to diverge—whoever proves AI can really make money first will be the king returning.

Apple reports tomorrow. Can the faith in AI keep it alive?