Despite Alphabet's stock dropping 8% after its earnings report, its announcement of a $75 billion investment in AI data centers has invigorated the AI stock market. Companies like BigBear.ai have seen remarkable gains; BigBear.ai's shares surged 40% due to a new contract with the Department of Defense for developing AI capabilities. This trend is mirrored by other AI firms like Tempus AI and SoundHound AI, reflecting the sector's overall positive momentum in response to increased investments in artificial intelligence.
BigBear.ai, a provider of AI-powered decision intelligence solutions, has been awarded a government contract by the DoD to enhance its Virtual Anticipation Network (VANE) prototype.
Alphabet's $75 billion capital expenditure, primarily for AI data centers, is boosting optimism across AI stocks despite its own stock falling 8% following earnings.
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