Alphabet Inc. said demand for artificial intelligence products boosted quarterly sales, and now requires an extreme increase in capital spending — heightening pressure on the company to justify the cost of keeping up in the AI race.

Wall Street is convinced that Alphabet Inc.’s (GOOGL) (GOOG) rapid strides in cloud computing and artificial intelligence (AI) are reshaping its growth narrative. JPMorgan revised its price target on Alphabet shares to $232 from $200 while maintaining an ‘Overweight’ rating,

Google’s accelerating shift into artificial intelligence helped propel its corporate parent to another quarter of solid growth while a crackdown on its internet empire looms in the background.

Alphabet CEO Sundar Pichai praises a standout Q2 driven by AI-powered growth across divisions, with Google Search and Cloud showing strong momentum and boosting revenue.

Google parent Alphabet plans to spend $10 billion more in capital expenditures this year than previously anticipated as the company works to meet surging demand for Google Cloud.

Alphabet Inc. (NASDAQ:GOOGL) ranks among the best magic formula stocks to invest in. Robby Stein, VP of Product at Google Search, announced that Alphabet Inc.

Sundar Pichai's fortune could have increased by a billion dollars had he chosen to hold onto Google shares sold over the past decade.

The addition of AI Overviews to Google Search may be one reason why that business continues to show strength. It brought in more than $54.19 billion in revenue during the quarter, representing a good chunk of its overall $71.34 billion in advertising revenue. That was up 10.5% from $64.61 billion in ad sales in the same period last year.

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks on Analysts’ Radar Right Now. On July 21, Wolfe Research analyst Shweta Khajuria reiterated an “Outperform” rating on the stock with a $190.00 price target.

Alphabet Inc. reported strong second-quarter earnings, exceeding Wall Street's expectations with a 14 percent revenue increase to $96.4 billion. Driven by growth in advertising and cloud businesses, the company is investing heavily in AI infrastructure.

Google Cloud posted $13.6 billion in Q2 revenue, up 32% year-over-year, according to CFO Anat Ashkenazi, driven by growth in "core and AI products at a rate that was much higher than Cloud's overall revenue growth.