Microsoft, Google Gain After AI Fuels Cloud Computing DemandMicrosoft Corp. and Google owner Alphabet Inc. sent a clear message to investors on Thursday: Our spending on artificial intelligence and cloud computing is paying off.Cloud Revenue Boosts Tech TitansThe companies exceeded Wall Street estimates in their latest quarterly results, driven by a surge in cloud revenue fueled by the increased use of AI services. Alphabet shares saw a 12% surge, the largest gain since July 2015, reaching their highest level ever. This pushed Alphabet’s valuation past $2 trillion. Meanwhile, Microsoft's shares rose by 3.5%.AI Dominance BattleThe recent results indicate that there is ample room for growth for both companies in this field.Generative AI in 2024Silicon Valley anticipates 2024 as the year when companies will start deploying generative AI, a technology capable of creating text, images, and videos from basic prompts.Corporate Cloud Infrastructure DemandWith the rising demand for cloud computing, corporate clients are increasingly investing in their cloud infrastructure. This trend has made the industry more stable and reliable.Google's Cloud SuccessGoogle, previously trailing behind Amazon and Microsoft in the cloud market, has seen significant progress. After breaking even last year, Google's cloud arm reported a first-quarter profit of $900 million, surpassing analysts' expectations.Microsoft's AI AdvancementsSales of Microsoft's Azure cloud platform climbed 31% in the quarter, surpassing analysts' predictions.GitHub and AI Coding AssistantThe AI-coding assistant, powered by OpenAI's large language model, assists developers in predicting lines of code, answering questions, and converting code between programming languages.Both companies have shown promising results in their AI and cloud computing strategies, indicating a positive outlook for the future.