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.
Some pundits are underplaying the big picture when it comes to shares of Alphabet.
Alphabet's undervaluation, strong fundamentals and growth in Google Cloud and AI offer long-term upside. Read here for more on GOOG stock.
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.
JPMorgan Chase is an advertising partner of Motley Fool Money. Adam Spatacco has positions in Alphabet and Nvidia. The Motley Fool has positions in and recommends Alphabet, Goldman Sachs Group, JPMorgan Chase, and Nvidia. The Motley Fool has a disclosure policy.
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