What Wall Street is really looking for in hyperscaler earnings

Following billions of dollars in promised capital spending in the tech sector and soaring valuations on promised expansions, Wall Street is now focusing on revenue pathways and actual profits when so-called hyperscalers report first-quarter earnings. Amazon , Alphabet , Meta Platforms and Microsoft all report profits after markets close Wednesday, and analysts want to see hard evidence that the AI buildout is translating into future returns. …