The European Union on Thursday hit Google with a fine of 890 million euros ($1 billion) after it said the technology behemoth broke digital antitrust regulations by setting up Google Play and its ubiquitous search engine to corral consumers towards its own services and apps to the detriment of competitors.
Alphabet Q2 earnings beat on strong Cloud growth, but a higher capex outlook weighed on sentiment. Here are some Alphabet-heavy ETFs to watch.
Shares of Alphabet and Tesla took a beating Thursday after the tech giants said they would ramp up their already breakneck pace of artificial intelligence spending – which rattled investors who are increasingly wary of companies' runaway AI spending. Tesla shares fell 10% and Alphabet dropped over 5%.
Alphabet's Q2 revenues rise 24% as Cloud surges 82% and Search grows 17%, while AI demand drives higher capital spending.
Alphabet TodayGOOGLAlphabet$320.08 -22.01 (-6.43%) As of 12:35 PM Eastern This is a fair market value price provided by Massive. Learn more.52-Week Range$187.82▼$408.61Dividend Yield0.27%P/E Ratio24.49Price Target$415.65Add to WatchlistAlphabet NASDAQ: GOOGL delivered its Q2 2026 results after the close on Wednesday, and by almost any measure, it was an exceptional quarter.
Alphabet Inc (GOOGL) is in focus on Thursday morning after Thomas Kurian, the chief executive of Google Cloud, said existing customer are pumping in about 50% more than their initial spending commitments. Kurian's remarks in an interview with the Mad Money host Jim Cramer follow GOOGL's blowout second-quarter (Q2) earnings, featuring a whopping 82% year-over-year increase in cloud revenue.
Google parent Alphabet's stock is taking a hit on growing worries about its AI spending.
The company said its marketable equity securities include $80 billion in short-term restricted shares and $14.1 billion restricted through 2027.
Alphabet says AI demand is outpacing capacity, prompting higher 2026 CapEx as Search, Cloud and YouTube growth reinforce its full-stack strategy.
Google Cloud CEO Thomas Kurian told CNBC on Thursday that the company's existing customers are spending "roughly 50% more" than they've already committed. That helped drive the red-hot growth in its cloud segment, which saw its revenue jump 82% year-over-year.
Google is about to add another name to its long list of products with more than a billion users, a list that already includes Search, Gmail, Drive, Android, YouTube, and Chrome. The company said during its Q2 2026 call that the AI assistant Gemini now has over 950 million monthly users.
Alphabet Inc. reported a massive EPS beat driven by mark-to-market gains, not core business growth. Q2 net income surged 298%, primarily from $99B in "other income" tied to SpaceX and Anthropic valuation gains. Core operations grew 30% YoY, but true cloud growth is obscured by related-party deals and artificial valuation uplifts.