Google: Strong spending outlook clouds strong earnings

Reaction to Alphabet’s earnings is delivering an important message from investors: strong revenue growth is no longer enough if it comes with an even bigger AI bill. Tesla and Alphabet both posted impressive results, but their shares fell as investors focused on soaring AI spending, negative free cash flow at Alphabet and the prospect of funding future investments through debt and equity issuance. With oil prices climbing and bond yields rising, financing the AI race is becoming increasingly expensive. Listen to find out more! Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.