STOCKS | Alphabet Q2 Capital Expenditure Doubles to $44.9 Billion

Alphabet said second-quarter capital expenditure doubled as it accelerated investment in artificial intelligence infrastructure, while revenue and profit also beat Wall Street expectations. According to Jin10, the company spent $44.9 billion on property and equipment in the second quarter, up from $22.4 billion a year earlier. Alphabet also raised $49.6 billion through an equity issuance and said the proceeds will be used to support capital expenditure and other corporate purposes. The company reported second-quarter earnings per share of $9.11, revenue rose 24% year on year to $119.8 billion, operating profit increased 30%, and operating margin rose to 34%. Google Cloud revenue surged 82% to $24.77 billion.