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Bloomberg) -- Alphabet Inc. said it was going to spend far more than planned in 2026, shocking investors on the cost of the artificial intelligence boom. Shares fell more than 7% in late trading.
The Google parent said it will spend $175 billion to $185 billion this year, compared with the $119.5 billion analysts expected. The company’s fourth-quarter sales, excluding partner payouts, were $97.23 billion, surpassing the $95.2 billion expected on average by analysts, according to data compiled by Bloomberg