Alphabet hikes capex again after earnings beat on strong ad, cloud demand

By Kenrick Cai and Akash Sriram (Reuters) -Strong AI demand helped power Alphabet's financial results, as both the core advertising and cloud computing businesses of the Google parent beat revenue expectations. Despite whispers of concerns over a developing AI bubble, the search giant boosted its projected capital expenditures for the year to between $91 billion and $93 billion. “We are investing to meet customer demand and capitalize on the growing opportunities across the company,” CEO Sundar Pichai s ...