And investors are increasingly nervous about when and whether the mind-boggling sums being spent by Big Tech on data centers will ever generate returns.
—
Allison Morrow,
CNN Money,
23 July 2026
Alphabet’s spending doubled since the same period last year, and its report is the first major test of investors’ patience over the record capital expenditures tied to the AI boom, which have yet to generate clear, measurable returns.
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