Google-parent Alphabet announced better-than-expected earnings for the second quarter of FY27, but its shares dropped 7% as the tech giant's plan to further increase its massive AI spending goals may have spooked investors.
Alphabet now expects to spend between $195 billion and $205 billion in capital expenditures, following which the stock tumbled in extended trading after trading mostly flat during the session. Last quarter, it had said that it planned to spend between $180 billion and $190 billion this year.
