Investors forgive Alphabet's huge capital expenditure because of its strong
earnings, XTB's Kathleen Brooks writes. Google-owner Alphabet said its
investment in artificial intelligence data center will rise to $190 billion this
year. At the same time, the company earnings per share were well ahead of Wall
Street expectations, while revenue rose by 22% on year. "Alphabet has proven
that its AI investment is paying off, and its AI products and cloud computing
businesses are making a meaningful difference to its bottom line," Brooks
writes. Alphabet's AI product offering is also easy to understand and built
around a coherent strategy, she adds.
