Alphabet just posted its first quarterly negative free cash flow as a public company, and that was somehow not the most alarming number in its earnings report. The real story is what the company has committed to spending next.

Alphabet's Q2 was a blowout by any reasonable measure. The stock still fell 7% because investors saw the capex bill. Sometimes the market has a short attention span.

Alphabet's Q2 2026 revenue surged 24% year-over-year to $119.8 billion, driven by strong AI investments and Google Cloud's impressive 82% growth in demand for AI solutions.

Alphabet is spending at a scale that would have seemed reckless just a year ago, and Wall Street is starting to wonder whether the returns can ever catch up to the bill.

Alphabet's Google Cloud reports a $514 billion backlog amid rising AI demand. Alphabet as the second-largest company by market cap on July 31 at 3.4% YES.

Alphabet's strong earnings report seems to be quashing any fears on Wall Street that the artificial intelligence trade has peaked. The Google parent's second-quarter results — released on Wednesday afternoon — painted a healthy picture of the tech ...

Shares of the Google and YouTube Parent Paced Dow Decliners Thursday Alphabet shares tumbled Thursday after the tech giant told investors it could spend more than it previously anticipated to fuel its AI ambitions.