Tech Flat as AI Winners, Losers Emerge -- Tech Roundup

Dow Jones05:30

Shares of technology companies were more or less flat as investors divided major artificial-intelligence players into potential winners and losers.

Meta Platforms shares fell sharply after the Facebook owner warned it would spend even more than previously anticipated on AI data centers. Meta has been playing catch-up on AI infrastructure, and is already laying off thousands of workers to divert capital to AI.

Shares of Microsoft, one of the first movers on AI due to its affiliation to OpenAI, fell on its own cost concerns. In contrast, Alphabet rose sharply after the Google parent reported a boom in its cloud business.

Boaz Weinstein's Saba Capital Management is set to take over as manager of Edinburgh Worldwide Investment Trust, a nearly $1.2 billion fund with a roughly $240 million stake in Elon Musk's rocket company SpaceX, ousting Baillie Gifford.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

April 30, 2026 17:30 ET (21:30 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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