Oracle shares rose 11% on its October 28, 2026 investor day, while Alphabet fell about 10% in premarket trading on October 29 after third-quarter results, as it kept its 2026 capital spending plan but expects a significant increase in 2027. Oracle targets FY2030 revenue above $225 billion, a non-GAAP operating margin above 40%, and annual free cash flow above $30 billion by FY2029, and its backlog of remaining performance obligations reached $664 billion. Oracle's FY2026 free cash flow was still negative $23.7 billion. Google Cloud revenue reached $30.7 billion, up 103%, but capex rose to $51.4 billion and free cash flow was negative $9.1 billion. The author argues that the market accepts AI spending once a company names when the cash will return.
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GOOGLOraclecloud computingAI investment
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GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: low
| 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% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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