The strong quarter and a boost in capital spending impressed analysts and solidified Alphabet's position as an AI leader.
In this article
Alphabet
stock jumped 4% Thursday after the company reported third-quarter financial results that beat across the board and increased its capital expenditures for the year.
The Google parent company bumped its spending expectations on artificial intelligence infrastructure to $91-$93 billion from $85 billion the prior quarter, noting continued strong cloud demand.
CEO Sundar Pichai said the company had a $155 billion backlog for Google Cloud at the end of the quarter.
The search giant's proposed capex spend for 2026 exceeds that of its hyperscalers peers.
Following a 38% jump in Alphabet shares in the third quarter, Wall Street will be paying close attention to the company's…
Alphabet reports $34.5bn profit and revenue soars 48% in recent quarter as it plans a sharp increase in AI spending
Alphabet's artificial intelligence capabilities will lead the stock to further gains, according to Cantor Fitzgerald.
Alphabet is planning a "significant increase" in spend next year as it continues to invest in AI infrastructure to meet the…
Alphabet's stock climbs as Google Cloud revenue runs rampant, growing 63% - SiliconANGLE
