Alphabet shares fall as AI spending forecast climbs to $205bn |
Alphabet posted its first negative free cash flow in at least a decade, burning $5.9 billion more than it retained in the second quarter. This loss is viewed as a significant change to a company that has always been famous for producing billions of dollars of excess cash flow and highlights the real price paid by companies engaged in the AI infrastructure war.
The total revenue of Alphabet was $119.8 billion in the quarter, growing 23% on a year-on-year basis. However, the firm’s capital expenditure wiped out the profits.
According to the company's CFO,........