Google parent Alphabet announced plans to spend $75 billion on its AI expansion this year, a 29% increase over Wall Street’s expectations. However, the company missed its cloud revenue target, leading to investor disappointment. Concerns over profitability also grew, as investors began expressing impatience with Alphabet’s ability to balance heavy investments in future technologies with immediate financial returns.
Alphabet to Invest $75 Billion in AI, But Misses Cloud Revenue Target, Investors Express Disappointment
