TECH - Alphabet CFO Underscores Google's $12B Capex Surge: 'Reflects Our Confidence In The Opportunities Offered By AI' | Benzinga
In the recent earnings call, Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) announced a significant increase in its capital expenditure, reflecting the company’s strong financial performance and its commitment to AI.
What Happened: Alphabet’s CFO Ruth Porat revealed a $12 billion capital expenditure during the company’s first-quarter earnings call. This substantial investment signifies the company’s confidence in the potential of AI across its business.
“Our reported capex in the first quarter was $12 billion, once again driven overwhelmingly by investment in our technical infrastructure with the largest component for servers followed by data centers. The significant year-on-year growth in capex in recent quarters reflects our confidence in the opportunities offered by AI across our business,” Porat said.
The earnings call also highlighted the company’s financial results for the first quarter. The consolidated revenues stood ...