MS TMT Conference Day 2: MSFT GOOGL, RDDT, WDAY, CART, INTU, HUBS, COIN

Key quotes and summaries from key presentations today…Again, please pass along nuggets you hear in presos/meetings….

MSFT: Amy Hood, CFO

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GOOGL: Anat Ashkenazi, CFO

Didn’t think much new here, but new CFO sounded solid in one of her first conference presentations..

1. AI Leadership and Innovation

• What got me intrigued is the opportunity to be part of what I view will be likely one of the major, most significant transformation in our lifetime with the prevalent use of AI, both today and where I think it’s heading... We have a really impressive and strong stack... robust infrastructure of data centers, TPUs, GPUs, incredible research teams... And then, obviously, everyone understands the global reach that we have to billions of users... If you’ve just looked at the announcements we’ve made over the past three months, nearly every month, sometimes every week in certain months, we’ve announced something... Whether it’s Gemini 2.0 or some of our video models or Agentic or, in other parts of the business, Waymo."

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2. Search Evolution

• "Sundar mentioned that 2025 is a big change for Search... We’re not going to wait. We’re going to bring it to consumers so that they can benefit from it... We’re now... monetizing Search with AI Overviews at the same rate as non-AI Overview Search, which is great from a monetization perspective... You’re not searching the same way today... Now you can search with Google Lens or Circle to Search. We have AI Overviews. And we’re seeing that when we bring that innovation to consumers, we see increased level of engagement... We shared yesterday that we have over 5 trillion, more than 5 trillion queries a year... What we’re seeing with AI Overviews is when someone is served with an AI Overview... they tend to then come back for more complex and longer queries... Gemini now has both a free tier for anyone who wants to use it as well as a paid tier for someone who wants something more advanced... It can look through your Calendar or Google Maps where you are... It literally is an assistant now for you."