Alphabet lines up $75b spend on AI this year, misses cloud revenue target

Alphabet lines up $75b spend on AI this year, misses cloud revenue target

The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo

Alphabet said on Tuesday it will spend $75 billion on its AI buildout this year, 29% more than Wall Street expected, and investors signaled disappointment at a missed cloud revenue target and began showing impatience over profitability.

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