Alphabet reports Q2 2026 earnings July 22, with investors focused on $175-185B capex guidance and AI revenue growth from Gemini and Google Cloud.

Alphabet increases AI infrastructure spending to $190B for 2026. Alphabet as second-largest company by market cap on July 31 at 4.5% YES.

Alphabet plans up to $185 billion in 2026 capex for AI data centers, more than double last year's spend, as investors await Q2 earnings for