Alphabet and Microsoft reported surging AI demand in their quarterly earnings, while spending on infrastructure keeps climbing. Google Cloud revenue more than doubled to $30.7 billion, up 103%, and Azure grew 48%. Alphabet projected $195 billion to $205 billion in capital expenditures this year and expects a significant increase in 2027, after spending about $51.4 billion in Q3. CFO Anat Ashkenazi warned Google Cloud could face near-term margin pressure as it relies on third-party computing capacity. Microsoft Cloud revenue rose 30% to $63.9 billion, and its commercial remaining performance obligation climbed 73% to $677 billion.
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GOOGLMSFTcloud computingartificial intelligence
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Related tickers and likely impact
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/28/2026 | 325.61 |
| Change that session | +1.57% |
MSFT
▲ Likely positiveMicrosoft
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/28/2026 | 530.83 |
| Change that session | -0.09% |
NVDA
▲ Likely positiveNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/28/2026 | 215.39 |
| Change that session | -1.17% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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