AI forcing Big Tech to spend more than it earns; Wall Street hates it
Alphabet made history in two ways on Wednesday.Recommended Video First, it had its most-profitable quarter in corporate history. Reporting $112 billion in profit, that’s its first 12-figured quarterly profit in history. But 69% of that came from unrealized paper gains on its stakes in SpaceX and Anthropic, not the core business, and Wall Street looked straight through it.
- ▪Alphabet made history in two ways on Wednesday.Recommended Video First, it had its most-profitable quarter in corporate history.
- ▪Reporting $112 billion in profit, that’s its first 12-figured quarterly profit in history.
- ▪But 69% of that came from unrealized paper gains on its stakes in SpaceX and Anthropic, not the core business, and Wall Street looked straight through it.
2 outlets in our directory ran this story, first to last over 21 hours. All of the coverage we found sits in one bucket: centre. That one-sidedness is itself worth noticing.
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Alphabet made history in two ways on Wednesday.Recommended Video First, it had its most-profitable quarter in corporate history. Reporting $112 billion in profit, that’s its first 12-figured quarterly profit in history. But 69% of that came from unrealized paper gains on its stakes in SpaceX and Anthropic, not the core business, and Wall Street looked straight through it. Stripping that out, however, Google still ostensibly had an excellent quarter; its cloud computing business, now the core of the company, soared 82%.
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