Fortune· 2h ago· 1 min read
For years, US technology giants had a tacit agreement with investors: The companies could spend lavishly on artificial intelligence, and the stock market would reward them long as their revenues were rising. That deal is suddenly breaking down.
Alphabet Inc. shares plunged more than 7% on Thursday, their worst day in over a year after the company raised its capital expenditures in 2026 to as much as $205 billion and reported that free cash flow turned negative in the second quarter for the first time since its 2004 initial public offering.
Nevermind that Google’s parent also delivered a whopping 82% increase in cloud-computing revenue, far surpassing Wall Street estimates. Investors were worried about all the spending.
“People are really focused on capex, obsessed with it. It used to be the more the better, but now it is the less the better,” said Jason Lemire, chief investment…
Continue reading at FortuneDiscussion
Be the first to comment.
Never miss a headline
Get breaking Nigerian and world news straight to your inbox.
Related Articles
F1 Standings 2026 After The Hungarian Grand Prix
51m ago
Read More
‘House Of The Dragon’ Season 3, Episode 6: Release Time And How To Watch Tonight On HBO And HBO Max
55m ago
Read More
Who Is ‘Jimothy’? The Viral, Round Raccoon, Explained
1h ago
Read More
Money Box
1d ago
Read More
Berlin Pride attack suspect killed in police operation after daylong manhunt
32m ago
Read More
UBA secures double Euromoney win on retail growth, sustainability drive
1h ago
Read MoreLatest in Business
CPPE says US 12.5% tariff poses limited risk to Nigeria’s export revenue
BusinessDay · 2h ago
Adeleke, accord party endorse Tinubu for 2027, seek peaceful Osun governorship poll
BusinessDay · 1h ago
Catholic secretariat urges merit-based voting, issue-based campaigns
BusinessDay · 2h ago
NLNG names 11 books on the Nigeria Prize for Literature 2026 longlist
BusinessDay · 2h ago
The Exploration Company in talks to raise $300 million, FT reports
Investing.com · 1h ago
Traders are getting a new tool to wager on the biggest U.S. stocks
Fortune · 1h ago
‘The Devil Wears Prada 2’ Extends Streaming Runway To Hulu This Week After Film Ends Theatrical Run
Forbes · 2h ago
I took my teen on a group tour in Scotland. I worried she'd be out of place, but she proved how grown-up she is.
Business Insider · 2h ago
Most Read Today
Kano govt declares ‘Daba’ illegal, orders crackdown on practice
Daily Post · 3d ago
SoundCloud acquires decentralized music platform Nina Protocol months after its shutdown
TechCrunch · 4d ago
Court stops EFCC from investigating Oyo finances
Daily Post · 4d ago
Dyson V10 Konical Review (2026): Affordable and Solid
Wired · 4d ago
Form 4 Scholastic Corporation For: 23 July
Investing.com · 3d ago
Super Falcons unveil new 10-star jersey before WAFCON 2026 opener
Legit.ng · 2d ago
ISPs' long nightmare of having to list all the fees they charge is finally over
Ars Technica · 4d ago
Senate Confirms Yuguda As AMCON Chairman
Naija News · 3d ago