ALPHABET GOOGLE ANTITRUST FINE
Google acquires Wyoming data center site from AI infrastructure firm Crusoe
Google has acquired Crusoe's data center site in southeast Wyoming, the AI infrastructure developer said on Friday, a day after the Alphabet unit announced a $17-billion investment in the project.
Google executive Donald Harrison resigns from SpaceX board
Donald Harrison has resigned from SpaceX's board after more than ten years of service. He notified the company of his decision, which took effect immediately on November 4. Elon Musk commented that the resignation was due to conflicts of interest related to Alphabet, Google's parent company. Google remains a major institutional holder of SpaceX shares after slightly increasing its position this week.
Alphabet discloses $548 million worth of Qualcomm stake
Qualcomm earlier this week irked investors when it missed Wall Street expectations for quarterly smartphone chip sales due to weak demand, even though it forecast better-than-expected revenue for its nascent data-center segment.
Google, Meta, TikTok sue to block California youth social media law
The law, known as Assembly Bill 1709, prohibits such platforms from offering underage children "psychologically exploitative features" that could lead to compulsive use, such as providing personal recommendations and sending videos through autoplay features. It also requires the deletion of children's accounts with those features.
Google voluntary buyouts: What's the exit package, which teams qualify and how many employees are eligible after Microsoft's similar offer?
Google Voluntary Exit Programme Details: Google has expanded its voluntary buyout programme to selected employees in five countries. The offer comes as Microsoft rolls out a similar voluntary exit scheme covering around 60,000 employees. Here's a look at Google's severance package, eligible teams and the number of employees who could opt for the offer.
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ETtech Explainer: Why Meta is raising billions through bonds
Developing AI models and offering AI-powered services requires enormous computing capacity. This involves building data centres, purchasing specialised chips and servers, expanding cloud infrastructure, and securing the electricity needed to run these facilities.
Google loses nearly half a trillion in market value: What went wrong with Alphabet?
Alphabet lost $482 billion in market value after its shares plunged nearly 13% following disappointing third-quarter results. Despite 103% growth in Google Cloud and more than 1 billion Gemini users, weaker search revenue and negative free cash flow raised fresh concerns about AI spending and Google’s advertising business.
Meta kicks off first euro bond sale in latest test for tech sector
Meta Platforms has initiated a significant bond sale, marking its first offering of euro-denominated bonds aimed at financing its investments in AI and infrastructure development. In addition, the tech giant plans to raise $15 billion through a US dollar bond offering this week. Despite ongoing concerns about growth in the AI sector and regulatory challenges, technology companies continue to pursue funding opportunities.
Google extends voluntary buyout offers to employees in several countries
The move comes amid mounting AI spending that has unnerved Wall Street and dented Alphabet's stock price. Microsoft last week offered voluntary buyouts to 60,000 employees in an effort to contain costs. Alphabet's workforce has grown steadily in recent quarters, but it has sought to shift resources toward priority areas.
Wall Street tech rout deepens on doubts over AI spending
Major US tech stocks have taken a hit as investors react to underwhelming earnings and worries about AI spending. Giants like Microsoft, Amazon, and Alphabet revealed hefty investments in AI systems along with rising debt. Intel's troubles intensified with a disappointing revenue outlook, driven by costly components and fierce rivalry.
US Stock Market today: Why are S&P 500, Dow Jones, Nasdaq down? Check top and worst performing stocks at Wall Street
Wall Street today saw one of the shocking losses as Google-parent Alphabet sufferedthe worst day since the company began trading at the US Stock Market.
Cash takes centre stage as investors rethink AI spending boom
Investors are increasingly focused on technology companies' cash generation capabilities to fund artificial intelligence investments. Microsoft and Oracle are gaining positive attention from investors, while Alphabet faces challenges due to rising AI costs. Alphabet's spending has surpassed its operating cash flow, raising concerns about its financial sustainability. In contrast, Microsoft's strong cash flow and forecasted growth indicate effective AI investment returns.
Alphabet’s AI risks deepen as filing reveals $98 billion in commitments beyond the $1 trillion spending
In a recent regulatory disclosure, Alphabet reveals financial risks linked to its massive AI investments that surpass $1 trillion. The firm might be burdened with nearly $98.5 billion in contingent commitments, including data center leases and chip system repurchases. There are growing apprehensions about the sustainability of Google Cloud's expansion due to a substantial backlog from its collaboration with Blackstone.
US sues Google for failing to restore a former employee to a similar job following military deployment
According to a complaint filed in Manhattan federal court, Mark Davisson spent 2-1/2 years as a Google key account executive, where he handled accounts for the asset manager BlackRock, hedge fund Bridgewater Associates and the former Credit Suisse.
Google stock falls over 10% after Alphabet misses Q3 revenue estimates: Why analyst sees buying opportunity
Google stock fell more than 10% in after-hours trading after Alphabet missed third-quarter earnings and revenue estimates. Despite weaker advertising results and rising AI spending, CFRA analyst Angelo Zino sees the pullback as a potential buying opportunity over the next 12 months, with Google Cloud growth and profit margins in focus.
Google shares crash 13% after $9 billion cash burn sparks AI spending fears
Alphabet shares crashed 13% as third-quarter earnings missed expectations due to heavy AI spending and slowing search ad growth. Net profit fell 25% to $26.17 billion despite a 25% revenue jump to $127.58 billion. Negative free cash flow of $9.1 billion and surging capital expenditure raised market concerns.
Google's Nvidia chip challenge boosts cloud sales, crimps cash flow
The trade-off, outlined by finance chief Anat Ashkenazi on Alphabet's post-earnings call on Wednesday, offers an early look at the costs of a business that has emerged as one of the company's biggest growth areas as investors fret over AI's threat to its lucrative search advertising business.
If you invested $1,000 in Google stock in 2006, here’s how much your Alphabet shares would be worth today
A $1,000 investment in Alphabet at the end of September 2006 would have grown to about $32,804 by October 22, 2026, with dividends reinvested. Here’s how Google stock outperformed the S&P 500 over two decades and what the company’s latest earnings reveal about its growth and AI spending.
Why did Alphabet stock crash 10% as Microsoft shares rose nearly 4%? Google parent may face its worst post-earnings drop ever as search ads slow and cash flow turns negative
Alphabet (GOOGL) stock falls 10% after Q3 earnings: Alphabet, Google’s parent, saw its shares drop over 10% in US premarket trade on Thursday after weak September quarter results. Search ad revenue grew 12%, slower than 17% last quarter, and free cash flow turned negative at $9.07 billion. Microsoft shares rose nearly 4%. Morningstar raised its fair value estimate for Alphabet to $450 and calls the stock attractively priced.
Microsoft, Oracle outshine Alphabet as investors demand AI returns
Wall Street increasingly favours technology companies demonstrating financial discipline in AI investments. Microsoft and Oracle gained on strong cash flow prospects, while Alphabet shares plunged amid rising capital expenditure and slower search growth. Investors are prioritising sustainable returns, profitability and cash generation over aggressive artificial intelligence infrastructure expansion.
Big Tech earnings: Microsoft, Google see cloud revenues surge
Microsoft's total revenues hit $92.3 billion against expectations of $90.6 billion, with profits of more than $36.6 billion versus the $35.1 billion analysts had forecast, according to FactSet.
Alphabet's heavy cloud spending drives bigger-than-expected cash burn
The company reported negative free cash flow of $9.07 billion, compared with analysts' estimate of a cash burn of $36 million, according to data compiled by LSEG.
Shares in Google owner Alphabet sink on profit miss, ad slowdown
Alphabet has witnessed a notable decline in its net profit and advertising revenue for the third quarter, specifically from July to September. The net profit dropped 25 percent to $26.2 billion, which fell short of analyst predictions. While YouTube's revenue growth has decelerated, Google Cloud's revenue impressive surged by 103 percent. The company reports substantial capital expenditures at $51.
Google misses Wall Street expectations, Alphabet stock sinks in early after-hours trading
The Mountain View, California-based company said its net income was $26.17 billion in the July-September period. That's down from $34.98 billion in the same period a year earlier.
South Korea fines Google and Apple over unfair app market practices
The Korea Media and Communications Commission, the country's media and telecommunications regulator, spent years investigating the U.S. tech giants for allegedly violating a 2021 law that prohibits app store operators from forcing developers to use specific payment systems.
South Korea fines Google, Apple a combined $47.6 million over app store payment practices
South Korea fined Alphabet's Google and Apple a total of 63.7 billion won for market abuse. The Korea Media and Communications Commission investigated their practices regarding app store payment systems. Both companies were found to have delayed app reviews and charged excessive commissions. The ruling allowed South Korean developers to utilize external payment links. This marks a significant step in regulating foreign tech companies' practices in the country.
OpenAI plans to buy Google's AI chips
OpenAI plans to buy Google's AI chips, The Information reported on Tuesday, citing a person familiar with the matter, as technology companies ramp up spending on data centers and semiconductors to meet surging demand for AI computing.
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