Google Says Spending Could Double This Year Amid Its AI Push. Investors Don't Seem Excited

Key Takeaways Alphabet shares sank Thursday after the Google parent outlined a massive increase in its spending this year.The company's fourth-quarter results topped estimates as cloud revenue surged. Alphabet (GOOGL) shares slumped Thursday after the Google and YouTube parent laid out massive spending plans to support its AI ambitions. The shares were down over 5% in recent trading, after the company forecast $175 billion to $185 billion in capital expenditures this year as it builds out its AI infras ...