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Alphabet Raises Capex to Up to $205 Billion as Google Cloud Grows 82%

Alphabet (Google) logoAlphabet (Google)
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Alphabet plans to raise capital expenditures to up to $205 billion this year, up from an earlier outlook of $180 billion to $190 billion, a move that has hurt investor sentiment despite strong second-quarter results. Google Cloud revenue rose 82% year over year, but the company reported negative free cash flow for the first time as it warned capex may increase again next year.

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