Alphabet stock jumps 4% after posting strong results, boosting AI spend
1. Alphabet's stock rose 4% after strong Q3 earnings report. 2. The company increased AI capital expenditures to $91-$93 billion. 3. Google Cloud reported a $155 billion backlog, indicating strong demand. 4. Analysts raised price targets, reflecting confidence in Alphabet's AI position. 5. Google's search revenue rose 15% year-over-year, highlighting robust performance.