Alphabet’s stock plunges on revenue miss and AI spending largesse
In a conference call with analysts, Pichai caused a bit of a stir when he said that the company plans to increase its capital expenditure to $75 billion in fiscal 2025 as part of an effort to build out its AI infrastructure. That’s much more than the $58.84 billion that analysts were expecting the company to spend in the coming year.
Alphabet has been talking nonstop about AI. Now investors are looking for proof that the company’s efforts are working.
Amazon.com Inc. shares have largely climbed on the back of two trends: strength in its cloud business and a focus on costs.
Alphabet analysts see strength in the company's search and YouTube business segments, while questions around cloud and increased spending remain.
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