Alphabet Just Scored Big With Meta: Is GOOGL Stock Poised for Another Leg Higher?

Meta will pay Alphabet $10 billion over six years for access to Google Cloud's infrastructure. The stocks of Google parent Alphabet (GOOGL 3.10%) (GOOG 2.98%) and Meta Platforms (META 2.04%) shot higher in Friday trading. Although most stocks rose because the Federal Reserve strongly hinted at a September cut in interest rates, another factor was likely the announcement of Meta's cloud deal with Google, as reported by The Information. Considering the $10 billion size of the deal, one has to assume it is cri ...