According to a recent report, artificial intelligence (AI) has become increasingly important in the business strategies of most technology companies. During the latest earnings season, mentions of AI in management speeches reached a new peak, exceeding previous records set in the first quarter. Competitor Microsoft's inclusion of ChatGPT within its search engine Bing led to a challenge to Google's dominance in web search. In response, Google released its own AI-powered chatbot called Bard. Surprisingly, Alphabet, Google's parent company, mentioned AI more frequently in their second-quarter meeting than in the first quarter, totaling 52 mentions. This investment in AI extends beyond search, as Alphabet has integrated generative AI technology into its ads business and cloud products. Analysts see the inclusion of ChatGPT as an "existential threat" to Google's Search business. Intel and Microsoft tied for second place during this earnings season, with each company mentioning AI 58 times. Similar to Alphabet, Intel's increased emphasis on AI reflects its positioning as a sector leader that joined the generative AI boom later.

Intel's AI mentions grew significantly compared to its first-quarter call. Although Intel focuses on AI, Rosenblatt analyst Hans Mosesmann does not see AI as a current investment theme for Intel shares. Intel has fallen behind competitors Nvidia and AMD in developing chips for training large language models in generative AI systems. However, Intel's partnership with Microsoft to launch new chip architectures that power AI capabilities within Windows computers offers optimism for its AI business. Microsoft, perceived as an early mover in AI, also ranked high in terms of AI mentions. Analysts predict a significant penetration of AI and cloud technology for Microsoft in the coming years. RBC Capital Markets analyst Rishi Jaluria expects AI to have a clearer impact on Microsoft's revenue in the second half of this year. Meanwhile, several high-profile tech companies, including Advanced Micro Devices, Apple, and Amazon, will release their second-quarter results soon. Additionally, outside of the tech industry, AI mentions have increased among S&P 500 companies, indicating the widespread impact of AI technology on investor markets.