Alphabet上周表示，由于斥巨资建设对人工智能发展计划至关重要的数据中心，公司今年计划的资本支 出将高达1850亿美元，超过了过去三年的总和。 责任编辑：丁文武 谷歌母公司Alphabet Inc．计划通过发行美元债券筹200亿美元，超过了此前预期的150亿美元规模。 由于投资者对人工智能相关债券的需求激增，此次发行吸引了超过1000亿美元的认购，成为企业债发行 史上需求最强劲的案例之一。 据知情人士透露，此次发行中期限最长的部分——2066 年到期的债券——定价已从早前的较美债收益 率高出1.2个百分点调整至高出0.95个百分点。因未获授权公开表态，该知情人士要求匿名。 由于投资者对人工智能相关债券的需求激增，此次发行吸引了超过1000亿美元的认购，成为企业债发行 史上需求最强劲的案例之一。 据知情人士透露，此次发行中期限最长的部分——2066 年到期的债券——定价已从早前的较美债收益 率高出1.2个百分点调整至高出0.95个百分点。因未获授权公开表态，该知情人士要求匿名。 Alphabet上周表示，由于斥巨资建设对人工智能发展计划至关重要的数据中心，公司今年计划的资本支 出将高达1850亿美元，超过了 ...

Core Viewpoint - Alphabet's Google Gemini is positioned to surpass ChatGPT in the consumer AI chatbot market, making GOOGL stock an attractive buy for medium- and long-term investors [1] Group 1: Company Performance - GOOGL stock is expected to benefit from the success of its cloud, chip, and subscription businesses, with strong fourth-quarter results indicating high overall performance [2] - As of February 6, GOOGL had a market capitalization of $3.9 trillion and a forward price-earnings ratio of 29.6 times, with the stock advancing 3% since the beginning of 2026 [4] Group 2: Market Position and Growth - Google Gemini's market share in the AI platform website and AI app markets increased to 24.8% and 14.3%, respectively, up from 22.5% and 13.2% the previous month, with January 2024 figures at 6.4% and 9.8% [6] - The number of monthly active users of the Gemini app has surpassed 750 million, showcasing its rapid growth and popularity [6] Group 3: User Reception - Tech experts and users have praised Gemini, with comparisons highlighting its superiority over ChatGPT in reasoning and overall usefulness [7]

Google Cloud appears to be emerging as the earnings driver for Alphabet Inc. ( GOOGL , GOOG ) since it surpassed the $70 billion run rate with operating margins at 30%. Operating income growthHi, I'm Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees from U.K. business schools. Investment Style: Spott ...

Google Cloud appears to be emerging as the earnings driver for Alphabet Inc. ( GOOGL , GOOG ) since it surpassed the $70 billion run rate with operating margins at 30%. Operating income growthHi, I'm Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees from U.K. business schools. Investment Style: Spott ...

Bloomberg Alphabet Inc. is set to raise $20 billion from its US dollar bond offering, exceeding earlier expectations for a $15 billion deal. The deal comes amid booming investor demand for artificial-intelligence-linked debt, with the offering attracting more than $100 billion of orders at its peak — among the strongest ever for a corporate bond offering. Most Read from Bloomberg Pricing on the longest portion of the offering — a bond maturing in 2066 — tightened to a premium of 0.95 percentage point ...

Core Insights - Google is preparing to issue a 100-year bond, following a 50-year bond issued in November, indicating strong investor confidence in the company's long-term viability [1][4] - The interest rates on Google's bonds are only slightly higher than those of US Treasury bonds, suggesting that Google is viewed as a safe investment comparable to the US government [2] - A recent federal judge's ruling allowed Google to maintain its monopoly status, which has led to significant profits, with net income reaching $132 billion in 2025 and plans to invest $185 billion in AI-related infrastructure in 2026 [3] Company Position - Google is now seen as a government-approved monopoly, with the ability to set prices for online search ads without regulatory constraints, unlike utilities that are price-controlled [2][5] - The issuance of a 100-year bond in British pounds places Google alongside entities like the University of Oxford and EDF, which are among the few that have borrowed for such long durations [4] Future Outlook - There is speculation about Google's long-term sustainability, with comparisons made to the US's potential to thrive in the next 50 to 100 years [4] - Google is appealing the recent monopoly ruling, arguing that it operates in a competitive market and seeking to pause the implementation of specific remedies during the appeal process [6]

Ruane, Cunniff LP, an investment adviser managing Sequoia Strategy, released its Q4 2025 investor letter. A copy of the letter can be downloaded here. Sequoia Strategy returned 9% in Q4 compared to 2.7% for the S&P 500 Index. The Strategy delivered a return of 21.9% in 2025 versus 17.9% for the Index. In a year characterized by both strength and volatility, the Strategy outperformed the Index. The firm strives to invest in high-quality, fundamentally and financially strong businesses at reasonable prices. T ...

Core Insights - The Trade Desk (TTD) has experienced a significant decline in stock price, dropping 26.7% over the past month, reflecting investor concerns about its performance in the digital ad tech space [1][7] - The broader Zacks Internet Services industry has also faced challenges, with a 4% decline, while the Computer & Technology sector and S&P 500 have lost 2.9% and 0.9%, respectively, indicating a widespread downturn in the digital advertising ecosystem [4] Company-Specific Challenges - TTD's recent sell-off is attributed to rising costs, slowing revenue growth, macroeconomic volatility, and increasing competition [6][8] - Total operating costs (excluding stock-based compensation) surged 17% year over year to $457 million, driven by investments in enhancing platform capabilities [8] - The company faces macro-driven ad spend caution, which could pressure revenue growth due to reduced programmatic demand amid higher interest rates and geopolitical instability [9] Competitive Landscape - TTD's strongest long-term growth driver, Connected TV (CTV), is becoming increasingly competitive, with rivals like Amazon expanding their demand-side platform (DSP) business [10] - Competition from major players such as Meta Platforms, Apple, Google, and Amazon, as well as smaller companies like Magnite and PubMatic, is intensifying in the CTV and retail media spaces [10] - Regulatory changes, including the deprecation of cookies and tightening data-privacy laws, present ongoing challenges for TTD [11] Long-Term Catalysts - Despite current challenges, TTD has several long-term growth catalysts, including the rise of CTV, expanding retail media networks, and the adoption of its AI-powered platform, Kokai, which is used by 85% of clients [14] - Kokai has demonstrated significant performance improvements, delivering 26% better cost per acquisition, 58% better cost per unique reach, and a 94% better click-through rate compared to its previous platform [14] - The acceleration of retail media is driven by demand for measurable outcomes, with TTD's platform integrating retail data with identity solutions for precise targeting [16] Valuation Metrics - TTD's stock is currently trading at a price/book multiple of 5.03X, compared to the industry's 7.84X, indicating a relative undervaluation [18] - Competitors such as Amazon, Magnite, and PubMatic are trading at multiples of 5.47X, 2.01X, and 1.23X, respectively [19]

Group 1 - Alphabet plans to raise approximately $15 billion by issuing high-rated U.S. dollar bonds [1]

Alphabet is looking to raise about $15 billion from a U.S. high-grade dollar bond sale, Bloomberg News reported on Monday, citing people with knowledge of the matter. ...