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Markets · Investing · Business
Finance
Alphabet's Projected $205 Billion Capex Can Lift These 3 AI Stocks
Cipher Digital, Micron, and Broadcom all look poised to be big winners as Alphabet continues to boost its capex budget.
Alphabet(NASDAQ: GOOG)(NASDAQ: GOOGL) delivered a solid second-quarter earnings report on Wednesday. Cloud revenue was up by 82% year over year, and the Gemini app reached 950 million monthly active users.
Some investors were spooked when Google's parent company raised its capital expenditures guidance, implying that it will spend up to $205 billion this year, which is likely why the stock slipped by more than 6% in Thursday trading. However, that isn't a problem for these three AI companies, which are poised to benefit from higher data center capital expenditures.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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