# Tech Earnings Put AI Returns in Focus as Memory Suppliers Regain Strength

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/43182
Published: 2026-10-29T04:45:06.000Z
Updated: 2026-10-29T04:45:06.000Z
Section: Investing

> Google shares fell about 10% at one point after hours despite doubled cloud revenue, while memory suppliers have turned some demand into profit through higher prices and deliveries.

Returns on artificial intelligence (AI) spending have become a broad issue across technology earnings, as Google’s post-results decline contrasts with memory suppliers’ renewed strength and pricing power.

Google shares fell about 10% at one point in after-hours trading following its results. Cloud revenue doubled, but advertising revenue missed expectations and cash consumption increased. Major technology companies still face pressure to show what their AI investments will return.

Microsoft drew a more favorable market response, with strong cloud business and free cash flow. The contrasting reactions have put the returns from AI spending in focus across the industry.

Memory stocks, which lagged during the second half of the year after earlier strength across the AI supply chain, have regained relative strength. 海力士 posted record profit and had long-term supply agreements, underscoring memory suppliers’ ability to command higher prices.

Price increases and deliveries have allowed suppliers to convert some of the demand into profit. The earnings season has revived the question of whether the factors behind memory stocks’ earlier outperformance are taking hold again.