Recently, Alphabet, the parent company of Google, released its financial report for the second quarter of 2024, showing that total revenue for quarter reached $96.43 billion, a year-on-year increase of 14%, significantly higher than market expectations. Among them, the revenue of Google business reached $13.6 billion, a year-on-year increase of 32%.
Alphabet announced it is raising its full-year 2024 capital expenditures by 13%, from the previously expected $75 to $85 billion, more than 60% higher than the $52.5 billion in 2023. The company's chief financial officer Anat Ashkenazi, said capital expenditures are expected to further increase in 2026. The funding will be used mainly for AI infrastructure construction, including building and data centers, to support the training and deployment of large-scale AI models. Meanwhile, Alphabet plans to increase investment in top AI talent to strengthen its research and capabilities. So far this year, the US tech giant has invested more than $320 billion in AI capabilities.
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