Alphabet Sold Its Entire Stake in This Skyrocketing Artificial Intelligence (AI) Stock and Bought This $32 Billion Startup Instead

Alphabet's independent growth fund made a huge gain on this big AI winner over the last decade. Alphabet (GOOG 2.44%) (GOOGL 2.48%) is one of the biggest spenders on artificial intelligence (AI) in the world. During its second-quarter earnings call, CFO Anat Ashkenazi said that it would spend $85 billion this year on capital expenditures, up from her prior outlook of $75 billion. Two-thirds of that would go toward servers for training and running large language models. But Alphabet is also heavily invested ...