FILE PHOTO: Google logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Tech giants on Tuesday talked up how customers are lapping up their generative AI-powered products, but mounting costs of developing the cutting-edge features irked investors hoping for a big boost to sales from the new technology.
Shares of Alphabet closed 7.5% lower, while those of Microsoft fell 2.7%, bringing down heavyweight tech stocks including Apple, Meta and Amazon.
