#alphabet

#alphabet

The S&P 500 is down 0.5%, or by 33 points. The SPDR S&P 500 ETF (SPY) is down 0.36%, or by $2.32. The Dow is down 0.45%, or by 208 points. The Nasdaq is down 0.73%, or by 173 points.

Kaley, a 20-year-old who alleged that social media harmed her childhood by addicting her and keeping her on platforms like Instagram for up to 16 hours a day, won $3 million in damages.

Alphabet said on Wednesday it was targeting capital expenditure of $175 billion to $185 billion this year, in yet another aggressive ramp-up in spending from the Google parent as it deepens its investments to push ahead in the AI race. Analysts on average had expected Alphabet to spend about $115.26 billion this year, according to data compiled by LSEG. Shares of the company fell more than 6% in extended trading.

There are numerous ways to bet on AI (artificial intelligence). But two paths are particularly intriguing: the AI technology suppliers and the beneficiaries of AI at scale. In other words, you can buy the company selling the "picks and shovels," or the chips and systems powering AI. Or, alternatively, you can invest in a company that integrates AI into existing products, services, and infrastructure used by billions of people.

Shares rose as much as 1.7% to $334.04, translating to a market cap of $4 trillion. The company recently overtook Apple Inc. to become the second-largest firm, behind Nvidia Corp. Only Nvidia, Apple, and Microsoft Corp. have topped the $4 trillion barrier, and Nvidia remains the lone company to ever crest $5 trillion. Monday's gain came after CNBC reported that Apple had picked the company's Gemini to run an AI-powered version of its Siri digital assistant.

Alphabet is one of the world's most dominant technology platforms, operating a global portfolio of services spanning Search, YouTube, Android, Chrome, Google Cloud, and digital advertising infrastructure. The company controls the largest share of global search traffic and online video consumption, giving it unparalleled data scale and monetization power. Alphabet's business is reinforced by deep network effects, massive computing infrastructure, and expanding AI capabilities across consumer, enterprise, and cloud workloads.