TMTPOST -- Nvidia   Corporation stock   on Thursday rose more than 1.7% to settle at $173.74赌钱赚钱app,   setting a new   close   record. Shares of   the leading   artificial intelligence ( AI )   chip company   extended their gains   after   its major customer   Alphabet Inc.   boosted   the capital   spending plans this year, strengthening   investors ’   confidence in   strong AI   demand.

Credit：Google DeepMind

Alphabet in February has   said it expects to spend around $75 billion in capital   expenditure ( Capex )   this year   as it continues to build out its AI offerings. That was   already above the $58.84 billion Wall Street expected at the time   when the company   released   its earnings for the fourth quarter of this year.  

The Google parent on Wednesday raised   its   annual Capex   outlook   by $10   billion   to   meet   the demand of   its cloud offerings.   The updated   guidance of $85   billion   was   a massive   beat compared with analysts anticipated   $73.31   billion.

Alphabet CEO Sundar Pichai commented   the   financial   results   for the second   quarter   that   the company recorded   robust growth as AI   is   positively impacting   every   part of the business, driving   strong momentum. " With this strong and growing demand for our Cloud products and services, we are increasing our investment   in capital expenditures in 2025 to approximately $85 billion and are excited by the opportunity ahead, "   he said in a statement.

The lifted   forecast comes as demand for cloud services surges across the tech industry as AI services increase in popularity. As a result, companies are doubling down on infrastructure to keep pace with demand and are planning multi-year buildouts of data centers.   Nvidia, as a dominant   advanced   AI chip maker,   these years   have   been   a major winner   amid the AI   frenzy. Capex   became the most   closely   watched figure   for Nvidia investors   since it   is   largely being propelled by spending on data   centers to power   AI technology.  

Pichai   in the statement attributed   the double-digit   revenue   growth   of Google Search   to AI   application, and   touted strong growth in revenues, backlog and profitability   of Google Could. Cloud is the business of tech giants that now   is most evidently benefiting from generative   AI   applications. Pichai said the   quarter ended June   30 saw robust growth across his company as it   is " leading at   the frontier   AI and shipping   at an incredible pace. "   

Alphabet   revenue for the second quarter   jumped 14% year-over-year   ( YoY )   to $96.43 billion, beating   Wall Street   expectation   of $93.97 billion. The diluted earnings per share ( EPS ) for the quarter soared 22.2% YoY to $2.31, smashing analysts ’   estimates of $2.01.

Both of Alphabet ’ s core business digital advertising   and the cloud computing business, which is deemed as the future growth engine, accelerated   for the June quarter   and delivered stronger-than expected growth of revenue.

Google advertising brought   $71.34   billion for the second   quarter   with a 10% YoY increase, up   from a 8.5% YoY rise three months ago. Analysts   had anticipated ad revenue to be $69.71   billion. In the segment, Google Search maintained its beat while YouTube ad reversed   after a miss by sales   for the March quarter.

Revenue from Google Search and Other gained   12% YoY to $54.19   billion, versus analysts projected $52.86   billion. YouTube ad recorded revenue of $9.8   billion with a 13% YoY increase, while   analysts had expected YouTube contributed $9.56   billion.

Revenue from Google Cloud refreshed quarterly record赌钱赚钱app, jumping   32% YoY to $13.62   billion   for the second   quarter. That was better   than analysts estimated $13.14   billion.   The increase in revenue was also ahead of a 28% growth for the previous   quarter.