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Alphabet’s shares dropped despite beating Wall Street estimates for overall profit and sales, showing investors wanted it to deliver gains in artificial intelligence. Microsoft has emerged as an AI frontrunner due to its substantial investment into startup OpenAI, integrating its technology across its product catalog. Alphabet has deployed AI in dozens of its products and launched its own generative AI chatbot called Bard. Microsoft’s chief financial officer Amy Hood said higher-than-expected AI consumption was responsible for a 3 percentage point boost to its cloud business. Alphabet has prioritized snaring AI startups as customers for its cloud division, while Microsoft has relied on its existing relationships to secure larger customers.