Alphabet Boosted by AI, Cloud Demand
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Alphabet, Wall Street and new york stock exchange
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Alphabet shares rose more than 3% in early trading on Thursday as the Google parent's earnings underscored a key message to investors: AI spending is climbing, but so are the returns.
Google parent Alphabet plans to spend $10 billion more in capital expenditures this year than previously anticipated as the company works to meet surging demand for Google Cloud.
Alphabet's undervaluation, strong fundamentals and growth in Google Cloud and AI offer long-term upside. Read here for more on GOOG stock.
Some pundits are underplaying the big picture when it comes to shares of Alphabet.
AI upstarts were supposed to lay siege to Google’s search-engine dominance. So far, the defense is winning, writes Asa Fitch, following second-quarter results from parent company Alphabet. A: Google’s
Alphabet Inc.'s $85B AI capex is backed by a $106B cloud backlog, showcasing tangible ROI. Click for my updated look at GOOGL stock post Q2 earnings.
Alphabet , faced with unprecedented threats from AI rivals, will be keen to assure investors this week that the company's own spending on the technology is helping it dig a deeper moat around its search and advertising businesses.