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The spending that the industry’s giants expect artificial intelligence to require is starting to come into focus — and it is jarringly large.

The tech giant’s quarterly results included strong growth in cloud computing, fueled by its services in generative artificial intelligence.

Along with the higher spending, the owner of Facebook, Instagram and WhatsApp projected lighter-than-expected revenue, causing its stock to plummet.

The first-quarter results are likely to fuel worries that competitors will continue grabbing a bigger slice of a market dealing with slowing electric car sales.

General Motors has struggled with electric vehicles and in foreign markets but it is selling lots of combustion engine cars and trucks in North America.

The company’s revenue was 15 percent higher compared with last year, and it solidified its standing as the entertainment company’s dominant streaming service.

Sales of the company’s electric cars dropped in the first three months of the year, even as other automakers sold more battery-powered vehicles.

The A.I. chip maker’s revenue more than tripled, and profits rose ninefold. It also projected that its revenue would more than triple again.

Ford Motor attributed the loss in the fourth quarter to charges related to pension plans and a restructuring of overseas operations.

The Snapchat parent company’s revenue for the fourth quarter was up from a year earlier, but it missed Wall Street’s expectations on spending.

The company laid off more than 500 of its employees on Monday, or about 10 percent of its global work force.

The iPhone maker’s share price dropped in after-hour trading even though sales and profit topped Wall Street expectations.

The tech giant introduced the Rufus chatbot. It has lagged behind others on introducing consumer-facing generative artificial intelligence.

Revenue was up 18% in the latest quarter, the tech giant said, as investors look for signs that it’s beginning to profit from artificial intelligence.

The automaker has placed a bet on electric vehicles, but it has struggled to produce and sell the vehicles in large numbers.

Amazon, Google, Microsoft and other tech companies have been on a layoff spree this month, with the latest cuts differing from last year’s mass reductions.

A tax benefit boosted quarterly earnings, but that masked a decline in earnings from carmaking caused by intensifying competition.

Automakers sold more cars in 2023 than a year ago as supply chain chaos ended, but sales are now under pressure from higher interest rates.