Why Alphabet’s stock is the standout gainer on Big Tech’s monster earnings day
Alphabet's earnings beat and strong cloud growth justify raised spending projections.
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alphabet shares jumped the most among big tech on tuesday after earnings beat estimates. cloud revenue came in at $11.4 billion, up 35% from last year, and that growth helped justify the company's higher capex plans. management said they'd spend $75 billion this year on infrastructure, up from earlier guidance. the market seemed to accept the trade-off: more spending now for more cloud and ai revenue later.
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