Rob Armstrong

speaker

37 appearances 2 recordings 1 series first heard Jul 2026 last heard 30 Jul

Rob Armstrong’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 2.

Appearances

newest first · ▶ plays the moment

FT News Briefing · Fed holds rates as inflation fears grow · 30 Jul 2026 podcast

Can one of these companies get the mix right of strong AI growth without the overwhelming and terrifying AI spending?

The most important thing was that neither company increased its target

for AI capital expenditure, for AI investment.

So that takes care of the spending side of the seesaw between spending and growth that these companies are sitting on.

But there was two different stories on the growth side.

Microsoft came through with growth in its intelligent cloud business that pleased markets, whereas Meta's guidance for growth in the months to come, disappointed.

And so Meta's shares are down and Microsoft's are up.

FT News Briefing · The Big Tech earnings dilemma · 29 Jul 2026 podcast

Can one of these companies get the mix right of strong AI growth without the overwhelming and terrifying AI spending? matched

So what we saw is a pretty sharp sell-off in chip stocks that started in America, moved overnight to Asia, to Korea and Japan, where there's other large chip companies, and then came back around the world and hit chip stocks in America again yesterday. matched

This is part of a larger story we've seen unfolding in the last two or three months, where first, the big... matched

So-called magnificent seven U.S. matched

tech stocks surrendered their market leadership. matched

After that, the semiconductors picked up at the baton and ran with it for a while. matched

But now they've started to falter. matched

So it's like, who's going to lead the market now? matched

Yes. matched

Well, the one we have heard from is Google, and their results very neatly encapsulate the dilemma that markets are facing right now. matched

And Google, or Alphabet, as the parent company is known, came out and said, well, we had great over 80% growth in our cloud computing business, which is basically their AI business. matched

But we spent even more billions of dollars than you thought we were going to building data centers and investing in this technology. matched

And the market looked at that balance and said, we don't like it. matched

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