Alphabet shares tumbled Thursday after the tech giant told investors it could spend more than it previously anticipated to fuel its AI ambitions.
The news overshadowed quarterly sales and profits that topped ***** ysts' estimates.
Google parent Alphabet's stock is taking a hit on growing worries about its AI spending.
Shares of Alphabet (GOOGL) were down 7% in recent trading despite quarterly earnings that topped ***** ysts' expectations, after the tech giant warned it could end up spending more than it previously anticipated to fuel its AI ambitions. It led the Dow Jones Industrial Average lower, and was among the worst-performing stocks in the S&P 500 and Nasdaq on a down day for the major indexes.
Alphabet said it now sees capital expenditures of between $195 billion and $205 billion this year, up from an earlier forecast of $180 billion to $190 billion, marking the second time the tech giant has raised its 2026 forecast. CFO Anat Ashkenazi told investors during the company's earnings call that expenditures could also "increase significantly" in 2027, per a transcript provided by AlphaSense.
#billion #previously #fuel
The news overshadowed quarterly sales and profits that topped ***** ysts' estimates.
Google parent Alphabet's stock is taking a hit on growing worries about its AI spending.
Shares of Alphabet (GOOGL) were down 7% in recent trading despite quarterly earnings that topped ***** ysts' expectations, after the tech giant warned it could end up spending more than it previously anticipated to fuel its AI ambitions. It led the Dow Jones Industrial Average lower, and was among the worst-performing stocks in the S&P 500 and Nasdaq on a down day for the major indexes.
Alphabet said it now sees capital expenditures of between $195 billion and $205 billion this year, up from an earlier forecast of $180 billion to $190 billion, marking the second time the tech giant has raised its 2026 forecast. CFO Anat Ashkenazi told investors during the company's earnings call that expenditures could also "increase significantly" in 2027, per a transcript provided by AlphaSense.
#billion #previously #fuel
2 months ago
