Alphabet (GOOG) achieved over $100B in quarterly revenue for the first time, with Q3 revenue up 16% to $102.35B. The cloud unit holds a $155B customer backlog and is challenging Nvidia as it moves toward a $4T valuation. Meta Platforms reported Q3 sales of $51.2B, with daily active users now at 3.54B.

Billionaires like Warren Buffett, Philippe Laffont, and Ken Griffin are investing in AI companies like Alphabet and Meta Platforms. The global AI market is projected to reach $4 trillion by 2033, leading to higher valuations for these companies. Alphabet has gained the confidence of top investors and is excelling in the AI industry.

Alphabet continues to dominate in search, with Q3 revenue up 16% year-over-year to $102.35B and EPS up 35% year-over-year to $3.10. The company hit over $100B in quarterly revenue for the first time and is challenging Nvidia’s position in the market. The stock has premium valuation and strong performance.

Billionaires are increasing their stakes in Meta Platforms, with Ken Griffin boosting his shares by 12,693%. The company is a combination of advertising and AI, showing strong fundamentals and user engagement. Sales in Q3 reached $51.2B, with net income up 20% to $7.25 per share.

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Read more at Yahoo Finance: Billionaires Keep Buying These 2 AI Stocks