Lana

Revenue there rose by about 48% from last year, far ahead of forecasts, as demand for AI and cloud services picked up.

But Alphabet isn't sticking that cash in a piggy bank.

The firm expects to spend between $175 billion and $185 billion this year, roughly a third more than Wall Street had bargained for.

It says investing heavily into data centers, chips, and cloud capacity will let it serve more users and sign more corporate deals.

But investors seem to want proof.

The shares slipped initially after the results.

Alphabet's services division did better than forecast, too.

That's a relief.

The department houses Google Search, the firm's biggest moneymaker.

And investors had worried that AI overviews — those summaries above search results — might have dragged on ad clicks and revenue.

But hey, even if Search had suffered, investors now have two more reasons to be hopeful.

1.

Waymo Alphabet's autonomous driving unit was just valued at $126 billion, over double the figure from last year.

Interestingly, the stock didn't move much after that news, suggesting the value might not be reflected in the share price.

and two, its Apple partnership.

Alphabet will power parts of Apple Intelligence and the firm's upcoming Siri overhaul, which will bake Google's Gemini into roughly 2.5 billion devices.

That gives the firm a way to stress test the tech at massive scale, which could help make Gemini the default choice for businesses seeking an AI whiz.

Before we dive into the next story, it's time for our daily check-in with Carl.

You've got questions.

He's got answers.