Key background
Google’s parent company, Alphabet, has been one of the biggest winners of the artificial intelligence boom and its stock has risen this year as the market rewarded its investments in AI, cloud computing and products such as Gemini (which now reportedly boasts 950 million monthly users). The company reported a strong second quarter Wednesday, with revenue climbing 24% year over year to $119.8 billion and Google Cloud revenue surging 82%, but investors are concerned about the scale of its AI spending and that it may take too long to pay off. And Alphabet isn’t the only company whose investors have those concerns—Amazon, Meta, Microsoft and Oracle have all also experienced share price drops over worries about the cost of their AI pushes.
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TANGENT
Dell’s net worth has surged over the last year as Dell Technologies stock benefits from rapid growth in artificial intelligence infrastructure and soaring demand for AI servers. Dell’s fortune climbed by tens of billions of dollars in 2026, including a single-day gain of about $35.8 billion in May after Dell Tech shares jumped more than 32% following a blockbuster earnings report. The rally has pushed Dell into the ranks of the world’s wealthiest people thanks to his roughly 40% stake in Dell Technologies.
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further reading
Forbes950 Million People Now Use Gemini Each Month As Alphabet Posts Earnings BeatBy Ty Roush
ForbesAlphabet Rally Boosts Google Cofounder Fortunes By $15 Billion—Here’s Why Shares Are UpBy Ty RoushForbesMichael Dell’s Net Worth Surges Up $35 Billion From Dell’s Best Day Ever—Passing Zuckerberg As 6th RichestBy Ty Roush