Alphabet Increases AI Spending Forecast Amid Mixed Analyst Reactions
Alphabet announced an increase in its capital expenditures for the year to between $195 billion and $205 billion, up from a previous forecast of $180 billion to $190 billion. While cloud revenue surged over 80% compared to last year, analysts have mixed reactions with some lowering price targets due to increased spending on AI initiatives.
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Topics: AI Investment Capital Expenditure Earnings Stock Performance