Google parent earnings beat projections amid plans to invest deeply in AI

Alphabet reports $34.5bn profit and revenue soars 48% in recent quarter as it plans a sharp increase in AI spending

Google's parent company, Alphabet, beat Wall Street expectations on Wednesday, and is planning a sharp increase in capital spending in 2026 as it continues to invest deeply in AI infrastructure.

Alphabet on Wednesday reported profit of $34.5bn in the recently ended quarter, as revenue from cloud computing soared 48%.