[In the AI ​​competition, “those with cash flow will have the upper hand.” Microsoft and Google’s financial reports are facing the big test] On October 28, the stock price trends of Microsoft and Google have clearly diverged since they last announced their financial reports. Wall Street is increasingly scrutinizing the companies' returns on their AI investments as concerns grow about the pressure that huge spending on artificial intelligence is putting on corporate profits. The two technology giants, also major players in the AI ​​field, will report results after the market close on Wednesday. Recent stock price performance shows that investors currently appear to favor Microsoft. The market expects Google's free cash flow to be negative in both 2026 and 2027; Microsoft's free cash flow is expected to decline in the current fiscal year ending in June next year, and then resume growth.