Alphabet has unveiled plans to spend between $175bn and $185bn this year, sharply exceeding Wall Street expectations as it intensifies its push in the global artificial intelligence race.
The capital expenditure target is well above analysts’ average forecast of about $115bn, according to LSEG data, and marks another escalation in spending among the world’s technology hyperscalers.
The announcement came alongside strong fourth-quarter results. Revenue rose 18 per cent year-on-year to $113.8bn, narrowly ahead of forecasts of $111.3bn. Net income climbed 30 per cent to $34.5bn, comfortably beating expectations of $31.9bn.
Despite the earnings beat, Alphabet shares slipped 1.4 per cent in after-hours trading, reflecting investor unease over the scale of spending commitments.
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