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The tech industry experienced a slump in the past year, but the most recent quarter was surprisingly strong for tech’s biggest companies. The slump exposed a weakness in the industry, as the world’s largest tech companies hadn’t developed a big new idea in years. Now, the companies are hoping that artificial intelligence will be the answer to the problem and a way to refresh aging product lines. They are investing billions in generative A.I. technology, and Amazon, Apple, Google, Meta, and Microsoft have all said they will increase investments to support A.I. work.
