Amazon, Alphabet, Microsoft, and Meta are all spending a ton of money to build out cloud capabilities to fuel the next phase of AI growth. But the market isn’t sold on that spend yet.

Ron Gross and Matt Argersinger discuss:- Why recent job numbers dramatically boosted the likelihood of a rate cut in 2024.- Intel’s dividend cut, and what history has to say about companies that stop payments to shareholders.- Why Apple and Meta are holding up well during a tough earnings season for big tech.- Amazon, Microsoft, and Alphabet’s combined $45B in capital expenditures this quarter, and how investors should be thinking about this investment phase in AI.