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Alphabet Inc. (Class A)

Alphabet Inc. (Class A)

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492 stories mentioning Alphabet Inc. (Class A)Updated 13h ago

Alphabet's Google announced a $1.5 billion 2026-27 expansion of its Alabama data center campus, funding its own power and infrastructure costs.

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SpaceX Second-Quarter Loss Narrows, Revenue Tops Views on Connectivity, AI Gains
US Markets

SpaceX Second-Quarter Loss Narrows, Revenue Tops Views on Connectivity, AI Gains

SpaceX's (SPCX) second-quarter loss narrowed as revenue surged past Wall Street's expectations, driven by strong growth in the connectivity and artificial intelligence segments.Its June-quarter loss narrowed to $0.09 per share from $0.34 a year earlier, the rocket and satellite company's first earnings report since going public in June showed.Revenue climbed 92% year-over-year to $7.81 billion, topping the FactSet-polled consensus of $6.83 billion.The connectivity division's revenue soared 66% to $4.29 billion, driven by Starlink subscriber growth, SpaceX said. AI sales more than tripled to $2.56 billion amid new cloud service agreements, as well as gains in subscription revenue at AI assistant Grok and social media platform X.The company's capital expenditures rallied to $18.37 billion in the second quarter from $2.83 billion a year ago.Shares of SpaceX were down 7.4% in after-hours trading, having climbed 9.4% to $125.33 at market close on Tuesday.The stock traded as high as $225.64 intraday in June following a record initial public offering that rose a total of $85.7 billion. SpaceX had priced its IPO at $135 per share."While we remain steadfast in our long-term bull thesis for SpaceX, the stock has clearly been under significant downward pressure," Deutsche Bank said in a note emailed Monday. "We think the main issue has been a tactical fear of the upcoming lock-ups, further exacerbated by uncertainty around the AI business, complexity of a potential Tesla (TSLA) merger, and lower than expected passive index buying."Up to 20% of shareholders' locked-up stock could be sold starting Aug. 6, the second full trading day following the release of quarterly results. An additional 10% may be available for sale if the stock closes at least 30% above the $135 level for a minimum of five of 10 consecutive trading days."We are optimistic following the lock-ups coming off, the stock can stabilize at some level," Deutsche Bank analyst Edison Yu wrote.Some on Wall Street have flagged the possibility of a merger between Tesla and SpaceX, both headed by Elon Musk.In February, SpaceX acquired artificial intelligence startup xAI, now known as SpaceXAI, which houses Grok and the X platform.Later in the year, SpaceX agreed to provide Anthropic access to compute infrastructure and struck a cloud services agreement with Alphabet's (GOOG, GOOGL) Google, which agreed to pay $920 million per month from October 2026 to June 2029.SpaceX in June signed a deal to provide Reflection AI with Nvidia's (NVDA) AI chips for $150 million a month, CNBC reported at the time.The stock's share price presents an attractive buying opportunity, RBC Capital Markets said in a note emailed Monday, citing strength in the connectivity and space businesses.The space segment's revenue rose 29% year-over-year to $962 million in the second quarter, driven by "large customer launches and a favorable customer shift," SpaceX said."We can appreciate that from a fundamental basis, not too much has changed since the IPO relative to the revenue and earnings growth we expect through (about 2030)," RBC said.

$GOOG$GOOGL$NVDA$SPCX$TSLA
Wire

Top Midday Stories: Bessent Says US, Iran Could Soon Reach Hormuz Deal; Palantir Shares Soar on Strong Q2 Results, Guidance

All three major US stock indexes were up in late-morning trading Tuesday, as investors grew more optimistic on a potential deal between the US and Iran to reopen the Strait of Hormuz.The US and Iran could reach a deal Tuesday or Wednesday to reopen the Strait of Hormuz for commercial ships, Treasury Secretary Scott Bessent said Tuesday in an interview with CNBC.In company news, Palantir Technologies (PLTR) reported Q2 adjusted earnings late Monday of $0.41 per diluted share, above the FactSet consensus estimate of $0.34. Second-quarter revenue was $1.94 billion, up from $1.00 billion a year earlier and above the FactSet consensus of $1.81 billion. For Q3, the company expects revenue of $2.160 billion to $2.164 billion, above the FactSet consensus of $2.00 billion. For full-year 2026, the company expects revenue of $8.150 billion to $8.158 billion, above its previous guidance of $7.650 billion to $7.662 billion and above the FactSet consensus of $7.725 billion. Palantir shares were up 27.2% around midday.Caterpillar (CAT) reported Q2 adjusted profit of $8.17 per share, up from $4.72 a year earlier and above the FactSet consensus of $6.22. Total Q2 sales and revenue were $20.54 billion, up from $16.57 billion a year ago and above the FactSet consensus of $19.34 billion. Caterpillar shares were up 6.5%.Anthropic has signed a $10 billion deal for computing capacity with Volta Infra, a new infrastructure startup backed by Nvidia (NVDA), Bloomberg reported Tuesday, citing people familiar with the matter. Separately, Blackstone (BX) has held early talks with investors to assess their interest in a second massive debt package to finance Anthropic's use of chips from Alphabet's (GOOG, GOOGL) Google, Bloomberg reported, citing people with knowledge of the matter. One early proposal was for at least $36 billion, but the size, structure and whether Blackstone will lead the financing remain unknown, the report said, citing the people. Nvidia shares were up 2%. Blackstone shares were up 1.5%, while Alphabet Class C and Class A shares were up 0.2% and 0.5%, respectively.Amazon.com (AMZN) founder Jeff Bezos indicated plans to sell 15 million shares of the company valued at $4.07 billion, according to a regulatory filing. Separately, Amazon was sued Tuesday by New Jersey Attorney General Jennifer Davenport, who accused the online retailer of abusing its market power over independent delivery drivers, Davenport's office confirmed to. Amazon shares were down 2.2%.McDonald's (MCD) reported Q2 non-GAAP diluted EPS Tuesday of $3.38, up from $3.19 a year earlier and above the FactSet consensus of $3.32. Total Q2 revenue was $7.10 billion, up from $6.84 billion a year ago but below the FactSet consensus of $7.13 billion. The company said Skye Anderson was appointed as president of McDonald's USA, effective Tuesday, succeeding Joe Erlinger. McDonald's shares were up 1.5%.Merck (MRK) reported a Q2 non-GAAP loss Tuesday of $0.13 per share, swinging from earnings of $2.13 per share a year earlier but narrower than the FactSet consensus of a loss of $0.27 per share. Second-quarter sales were $16.61 billion, up from $15.81 billion a year ago and above the FactSet consensus of $16.37 billion. For full-year 2026, the company expects non-GAAP EPS of $2.66 to $2.76, below its prior outlook of $5.04 to $5.16 and below the FactSet consensus of $2.79. Merck shares were down 1.1%.Price: $159.84, Change: $+34.19, Percent Change: +27.21%

$AMZN$BX$CAT$GOOG$GOOGL$MCD$MRK$NVDA$PLTR
Wire

Update: Market Chatter: Blackstone Gauges Interest in New Debt Package for Anthropic Chip Deal

(Updates with Anthropic's response to a request for comment in the last paragraph.)Blackstone (BX) has held early talks with investors to assess their interest in a second massive debt package to finance Anthropic's use of chips from Alphabet's (GOOG, GOOGL) Google, Bloomberg reported Tuesday, citing people with knowledge of the matter.One early proposal was for at least $36 billion, while the size, structure and whether Blackstone will lead the financing are unknown, the report said.Blackstone and Apollo Global Management (APO) finalized a $35 billion debt deal two months ago to fund Anthropic's lease of Google's chips, the report said.Anthropic declined to comment, while the other companies didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $136.31, Change: $+1.63, Percent Change: +1.21%

$BX$GOOG$GOOGL
Wire

Market Chatter: Blackstone Gauges Interest in New Debt Package for Anthropic Chip Deal

Blackstone (BX) has held early talks with investors to assess their interest in a second massive debt package to finance Anthropic's use of chips from Alphabet's (GOOG, GOOGL) Google, Bloomberg reported Tuesday, citing people with knowledge of the matter.One early proposal was for at least $36 billion, while the size, structure and whether Blackstone will lead the financing are unknown, the report said.Blackstone and Apollo Global Management (APO) finalized a $35 billion debt deal two months ago to fund Anthropic's lease of Google's chips, the report said.The companies didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $136.30, Change: $+1.61, Percent Change: +1.20%

$BX$GOOG$GOOGL
Asia Markets

Update: US Equity Indexes Jump as Communication Services Rally While Crude Oil Slides With Treasury Yields

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose amid strong gains in communications services and a slide in government bond yields, coupled with a drop in crude oil futures, supporting President Donald Trump's version of the state of Iran peace negotiations.The Nasdaq Composite jumped 2.1% to 25,913.90, with the S&P 500 up 1.5% to 7,600.50 and the Dow Jones Industrial Average higher by 1.3% to 53,178.41 on Monday.Communication services surged 4.3%, topping sectors, followed by consumer discretionary and technology. Energy, consumer staples, and health care were the sole decliners.Alphabet's (GOOG, GOOGL) Google signed a 15-year power purchase agreement for the total energy output from RWE's 155-megawatt Crooked Creek solar project in McCurtain County, Oklahoma, RWE said Monday. Shares of Alphabet jumped 4.9%, the top gainer on the Dow.Amazon.com's (AMZN) web services unit and Superblocks unveiled a multi-year collaboration to bring the latter's generative AI platform to customers' AWS environments, including Amazon Bedrock. Shares of Amazon advanced 4.6%, one of the biggest outperformers on the Dow, the S&P 500, and the Nasdaq.Alibaba (BABA) launched Qwen3.8-Max, its latest large language model, and plans to release the model's open weights next week alongside Qwen3.8-27B.President Donald Trump said his latest offer of talks is a "last chance" for Iran after he called off what he said was a major attack on the Islamic Republic, Bloomberg reported. "I want to give them every last chance before decapitation," Trump told reporters in the Oval Office, according to Bloomberg. "You'll find out today or tomorrow. I mean, they're going to go quickly, one way or the other. It's not very complex."Iran's Foreign Ministry Spokesman Esmaeil Baghaei said no negotiations with the US were underway and no meetings were scheduled, Reuters reported.Oman and Iran have been negotiating over a new maritime route through the Strait of Hormuz, which borders both their territorial waters, Al Jazeera, a Middle Eastern broadcaster, reported. Sunday night, Iran's Foreign Minister Abbas Araghchi told the Iranian cabinet in a report that negotiations between Tehran and Muscat were "on the way to being finalized".The front-month US West Texas Intermediate crude oil slumped 5.3% to $80.15 a barrel, and global benchmark North Sea Brent dropped 4.8% to $83.70 a barrel.Most US Treasury yields declined, with the 10-year trading down 6.7 basis points to 4.68%, retreating from the 52-week high touched late last week. The two-year yield dropped 5.2 basis points to 4.24%.In economic news, the Institute for Supply Management's US manufacturing index rose to 55.6 in July from 53.3 in June, compared with expectations for 53.9 in a Bloomberg-compiled survey. This is the highest reading since May 2022, ISM said."The increase in New Orders and Production, along with an increase in Order Backlogs and Employment suggests that manufacturing businesses are becoming more comfortable with the idea of expanding capacity," Thomas Simons, Jefferies Chief Economist, said in a note. "Comments from some respondents suggest that the AI infrastructure build out has accelerated to a new phase."

Dow JonesNasdaq CompositeS&P 500$AMZN$BABA$GOOG$GOOGL
Commodities

RWE Signs 15-Year Google Power Deal for 155 MW Oklahoma Solar Project

RWE signed a 15-year power purchase agreement with Google (GOOG) for the full 155-megawatt Crooked Creek Solar project in Oklahoma, RWE Americas said Monday.The agreement covers all electricity from the Crooked Creek Solar project in McCurtain County. RWE expects to begin construction later this year and plans to bring the facility into commercial operation in 2028.Once operational, the project will supply electricity for Google's operations in the Southwest Power Pool market while supporting economic growth in McCurtain County and nearby communities, the companies said.The project is expected to create up to 250 onsite jobs at peak construction, generate about $24.3 million in local economic activity and contribute another $1.4 million in state and local tax revenue during construction, RWE said.Crooked Creek adds to RWE's Oklahoma portfolio, which includes the 148-MW Boiling Springs wind project in Woodward County and six power projects under development totaling 1.6 gigawatts, the company said."Our agreement with RWE adds critical new generation to the local system, boosting the amount of affordable and reliable power supply for Oklahoma and the region," said Will Conkling, Director of Energy and Power at Google.Price: $373.74, Change: $+17.09, Percent Change: +4.79%

$GOOG$GOOGL
Wire

Commvault Integrates Google Threat Intelligence Into Cyber Recovery Workflows

Commvault Systems (CVLT) said Monday it is integrating Alphabet's (GOOG, GOOGL) Google Threat Intelligence data and scanning capabilities into its Threat Scan workflows to help customers identify clean recovery points and restore systems faster after cyberattacks.The company is also adding inline scanning that collects file hashes during backup operations, allowing recovery points to be checked against threat indicators.The integration and related Threat Scan enhancements are expected to become available in the coming months, the company said.Price: $121.77, Change: $+3.97, Percent Change: +3.37%

$CVLT$GOOG$GOOGL
Wire

Alphabet's Google Enters 15-Year Power Purchase Deal With RWE

Alphabet's (GOOG, GOOGL) Google has entered into a 15-year power purchase agreement for the total energy output from RWE's 155-megawatt Crooked Creek solar project in McCurtain county, Oklahoma, RWE said Monday.RWE said it plans to start construction in late 2026, and expects the project to begin commercial operation in 2028.The project will power Google's operations in the southwest power pool market, according to RWE.Price: $374.69, Change: $+18.04, Percent Change: +5.06%

$GOOG$GOOGL
Equities

S&P 500 Posts Weekly Gain Amid AI Monetization Optimism

The Standard & Poor's 500 index rose 1.1% this week as hyperscalers showed the mega spend on the artificial intelligence buildout is being monetized.The market benchmark ended the week at 7,489.72. The index is now down 0.1% quarter-to-date but up 9.4% year-to-date.Microsoft (MSFT) and Amazon.com (AMZN) rose this week as quarterly results from the tech giants showed revenue growth in areas related to AI products and services, helping calm worries surrounding hundreds of billions of dollars of investments earmarked for the AI buildout.Microsoft reported triple-digit AI annual recurring revenue growth and an accelerating Azure trajectory into the end of 2026, Dan Ives, global head of technology at Wedbush Securities, said in a note to clients. The software behemoth's quarterly results, which included Azure's full-year revenue surpassing $100 billion for the first time, reinforced the idea that "any knee-jerk reactions to the elevated capex framework represent strong buying opportunities," Ives said.Shares of Microsoft were up 22% this week.The consumer discretionary sector in the S&P 500 had the largest percentage gain of the week, up 8.3%, followed by a 5.4% advance in communication services and a 1.2% rise in consumer staples.Sales at Amazon's cloud computing unit delivered the fastest growth in 18 quarters, helping the e-commerce giant exceed market expectations for Q2 earnings and revenue. Shares jumped 17% this week even as the e-commerce behemoth expanded its capital expenditure by about $20 billion to $220 billion.A consortium of banks led by Morgan Stanley (MS) is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported Thursday, citing people familiar with the matter. Alphabet's (GOOG, GOOGL) Google would provide financial guarantees and chips for the project. Shares of Alphabet are up 12% this week.The three worst-performing S&P 500 sectors this week were utilities, real estate and materials, down 4.2%, 2.2%, and 1.7%, respectively.C.H. Robinson Worldwide (CHRW) said a jury in Texas issued a $604 million advisory verdict against the firm and two other defendants in a lawsuit stemming from a trucking accident involving an independent motor carrier. Shares declined 21% this week.Edison International (EIX) said Thursday that Southern California Edison believes it is likely its equipment was associated with the ignition of the 2025 Eaton Fire, according to a Thursday quarterly filing. Southern California Edison recorded $1.6 billion in settlement-related losses and said it expects to incur additional material losses related to the fire, per the filing. Shares of Edison slumped 8% this week.Palantir Technologies (PLTR), Space Exploration Technologies (SPCX), Advanced Micro Devices (AMD), Caterpillar (CAT), Walt Disney (DIS), SanDisk (SNDK), Uber Technologies (UBER) and Take-Two Interactive Software (TTWO) are among the companies reporting their quarterly results next week.Economic data due next week includes non-farm payrolls, job openings and labor turnover survey, and ISM manufacturing and services purchasing managers' indexes.

S&P 500$AMD$AMZN$CAT$CHRW$DIS$EIX$GOOG$GOOGL$MS$MSFT$PLTR$SNDK$SPCX$TTWO$UBER
Wire

Reddit to Overcome Search Pressure as Ads, AI Licensing Support Growth, Wedbush Says

Reddit (RDDT) should continue to grow despite weaker search traffic, helped by improving ad products, higher-value app users, stronger profits and potential AI licensing deals, Wedbush said in a note Friday.The recent drop in US daily active users appears temporary rather than a long-term problem, and Reddit is expected to gain more control over traffic by moving more users directly to its app, Wedbush said, adding that improving app retention, better feed recommendations and conversion of web visitors into app users should support daily user growth and stronger engagement over time.The investment firm raised its Q3 revenue estimate by 5%, citing continued improvement in advertising products and monetization after Q2 revenue came in 10% above consensus, expecting Reddit's ad business to remain a key growth driver as Reddit Max gains more advertisers and newer ad products help the company generate more revenue from its user base.Reddit is expected to retain bargaining power in future AI data licensing talks because its content remains useful for model training, with potential buyers extending beyond Alphabet's (GOOG, GOOGL) Google and OpenAI, according to the note.Wedbush cut its price target to $221 from $250 and maintained an outperform rating for Reddit while keeping it on the Best Ideas List.Price: $135.45, Change: $-42.60, Percent Change: -23.92%

$GOOG$GOOGL$RDDT
Amazon Shares Surge on Cloud-Driven Quarterly Beat; CapEx Outlook Raised
US Markets

Amazon Shares Surge on Cloud-Driven Quarterly Beat; CapEx Outlook Raised

Amazon.com (AMZN) shares were soaring early Friday after the e-commerce giant's second-quarter results topped Wall Street's views amid cloud-computing business strength, while the company lifted its capital expenditure guidance.Net income jumped to $5.75 a share for the June quarter from $1.68 a year earlier, Amazon said late Thursday. The consensus on FactSet was for $1.82. Net sales climbed 20% to $200.61 billion, surpassing the Street's view for $197.04 billion.The company's shares were up 11% in premarket activity Friday.Sales at the Amazon Web Services cloud-computing unit surged 37% to $42.23 billion, marking the fastest growth in 18 quarters. "Customers continue to increase cloud migrations and scale up their use of AWS core services," Chief Financial Officer Brian Olsavsky said during an earnings call late Thursday, according to a FactSet transcript. "As customers invest in (artificial intelligence), we see core spending increase in core consumption.""We've long believed AWS could become a few hundred-billion-dollar revenue business and now believe it'll be at least double that, and very possibly be a $1 trillion annual revenue business for us in time," Amazon Chief Executive Andy Jassy said on the call.For 2026, the technology giant now expects to spend roughly $220 billion in cash CapEx, up from its previous estimate of $200 billion, driven by the higher cost of memory, Jassy told analysts. "But even at that amount, we will still not have enough capacity to meet all the demand we have in 2026, and I believe this dynamic will also be true in 2027."Amazon expects to spend "a lot of CapEx and encounter free cash flow headwinds" in the short term amid strong demand for the development of data centers and before it can start monetizing from them, Jassy said on the call. "But as we get a few years out and the revenue growth outpaces the incremental CapEx growth, which will happen at some point, the resulting revenue, free cash flow and return on invested capital is very compelling."Second-quarter CapEx came in at $53.1 billion, while free cash flow was a negative $7.6 billion for the trailing 12 months, compared with an inflow of $18.18 billion a year earlier, mainly reflecting AI investments, according to the company.Recently, Microsoft (MSFT) said it anticipated CapEx in fiscal 2027 to increase year over year, with the metric to exceed $50 billion in its fiscal first quarter. Facebook and Instagram parent Meta Platforms (META) raised the lower end of its CapEx guidance. Alphabet (GOOG, GOOGL) shares came under pressure last week after the Google parent indicated rising AI capital spending that analysts said could drive a bigger cash burn than previously projected.Amazon delivered the "cleanest beat" among the hyperscalers within Wedbush Securities' coverage, while the e-commerce giant's management also provided the "most explicit walk through" of how it will achieve return on invested capital on its CapEx spend, the brokerage said Friday."This clean beat and walk through are the factors in our view on the different share reaction between (Alphabet) and (Amazon) on what we view as similarly strong fundamental prints with raises in CapEx," Wedbush said in a note to clients, as its increased its price target on the Amazon stock to $310 from $293 and reiterated its outperform rating.For the ongoing quarter, Amazon expects net sales between $197 billion and $202 billion, while the Street is looking for $202.76 billion. Excluding the impact of the company's Prime Day sales event in both 2025 and 2026, this year's September quarter year-over-year growth would be nearly 400 basis points higher, according to the company.

$AMZN$GOOG$GOOGL$META$MSFT
Asia Markets

Update: US Equity Indexes Surge as Microsoft Triggers Rebound in Chipmakers While Inflation Rate Falls in June

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes soared Thursday as semiconductors rebounded after Microsoft's (MSFT) quarterly results revealed evidence of AI monetization and a closely watched inflation gauge showed a decline for June.The Nasdaq Composite catapulted 2.8% to 25,122.18, the S&P 500 jumped 1.7% to 7,437.63, and the Dow Jones Industrial Average climbed 1.2% to 52,208.06.Technology was the standout gainer, up 5.2%, followed by consumer discretionary. Communication services, consumer staples, and health care led the decliners.Microsoft's intelligent cloud segment revenue surged 32% to $39.31 billion, buoyed by an astounding 43% growth in Azure and other cloud services. Analysts expected a 40% year-over-year advance in Azure sales. Shares of Microsoft shot up 16%, one of the top gainers in the S&P 500, Nasdaq, and the Dow."This was another standout quarter by Nadella & Co. with triple-digit AI [annual recurring revenue] growth and accelerating Azure trajectory into the end of FY26, reinforcing that any knee-jerk reactions to the elevated capex framework represent strong buying opportunities as Redmond's structural AI moat only widens from here," Dan Ives, global head of technology at Wedbush Securities, said in a note.Arm (ARM) shares rose 6.2% after the semiconductor group reported a fiscal Q1 beat for adjusted earnings and revenue.A consortium of banks led by Morgan Stanley (MS) is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported Thursday, citing people familiar with the matter. Alphabet's (GOOG, GOOGL) Google would provide financial guarantees and chips for the project. The deal could be announced as soon as today, the report said.VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, advanced 6.9%, as chipmakers are major beneficiaries of AI-related spending. Among companies with a market capitalization of more than $200 billion, six of the top 10 gainers on Thursday were from the semiconductors and semiconductor equipment and materials industries, according to data compiled by Finviz.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.An advance BEA reading of gross domestic product showed 1.5% growth in Q2, after a 2.1% increase in Q1 and missing the 2.0% gain forecast in a Bloomberg-compiled survey.US Treasury yields traded mixed, with the 10-year up 5.3 basis points to 4.68%.In precious metals markets, gold futures jumped 1.9% to $4,173.5, and silver futures advanced 2.5% to $59.53.The front-month US West Texas Intermediate was down 0.9% at $83.70 a barrel, while global benchmark North Sea Brent declined 1.8% to $89.15 a barrel.Late Wednesday, US forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.

Dow JonesNasdaq CompositeS&P 500$ARM$GOOG$GOOGL$MS$MSFT$SMH
Sectors

Sector Update: Tech Stocks Sharply Higher Late Afternoon

Tech stocks were sharply higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 5.6% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing up 7.3%.The Philadelphia Semiconductor index popped 8.3%.In corporate news, Microsoft (MSFT) shares jumped past 16% after the company reported higher-than-expected fiscal Q4 results in the previous day.ASE Technology (ASX) shares climbed 10% after the company's Q2 earnings and revenue exceeded expectations.Meta Platforms (META) shares fell nearly 9% after it provided a soft Q3 revenue outlook following an unexpected year-over-year decline in quarterly earnings. Meta also raised the lower end of its capital expenditure guidance.A consortium of banks led by Morgan Stanley (MS) is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported. Alphabet's (GOOGL) Google would provide financial guarantees and chips for the project. Alphabet shares were down 0.7%.

$ASX$GOOGL$META$MSFT
Sectors

Sector Update: Tech

Tech stocks were sharply higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 5.6% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing up 7.3%.The Philadelphia Semiconductor index popped 8.3%.In corporate news, a consortium of banks led by Morgan Stanley (MS) is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported. Alphabet's (GOOGL) Google would provide financial guarantees and chips for the project. Alphabet shares were down 0.7%.

$GOOGL
Wire

Market Chatter: Banks in Talks to Lend $15 Billion for Google-Backed Anthropic Data Center

A consortium of banks led by Morgan Stanley (MS) is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported Thursday, citing people familiar with the matter.Alphabet's (GOOG, GOOGL) Google would provide financial guarantees and chips for the project. The deal could be announced as soon as today, the report said.Morgan Stanley and Nexus Data Centers -- the developer -- did not immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $209.57, Change: $+6.44, Percent Change: +3.17%

$AMZN$GOOG$GOOGL$MS
Wire

Banks in Talks to Lend $15 Billion for Google-Backed Anthropic Data Center, The WSJ Reports

Banks in Talks to Lend $15 Billion for Google-Backed Anthropic Data Center, The WSJ Reports

$AMZN$GOOG$GOOGL$MS
Commodities

Commonwealth Fusion Systems Secures $1 Billion in Equity Funding Round

Commonwealth Fusion Systems said Thursday it has raised $1 billion in fresh equity financing to accelerate commercialization, specifically supporting the final assembly of its Sparc fusion demonstration machine in Devens, Massachusetts.The new funding brings its total capital raised to $4 billion.The company already submitted an interconnection application to PJM Interconnection. CFS remains on track to deliver commercial fusion power to the grid in the early 2030, it added.This timeline is further underpinned by strategic partnerships and power purchase agreements with major buyers, including Dominion Energy (D), Google (GOOG), and Eni (E).

$D$E$GOOGL
Sectors

Sector Update: Tech Stocks Decline Late Afternoon

Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 3.3%.The Philadelphia Semiconductor index dropped 3.7%.In corporate news, Microsoft-backed (MSFT) OpenAI's ChatGPT is nearing 1 billion weekly active users, The Information reported. OpenAI originally targeted to hit the milestone by the end of last year, the report said. Microsoft shares were up 0.5%.Vertiv (VRT) shares fell nearly 17% after the company's Q2 revenue increased year on year but missed analysts' estimates.Alphabet's (GOOGL) Google DeepMind has dismantled the team behind its Nobel Prize-winning AlphaFold AI system, reassigning most researchers to Gemini-related projects and other scientific initiatives as it shifts its research strategy, the Financial Times reported. Alphabet shares added 0.7%.Cognizant Technology Solutions (CTSH) shares jumped 12% after it reported higher Q2 adjusted earnings and revenue.

$CTSH$GOOGL$MSFT$VRT
Wire

Update: Market Chatter: Alphabet's Google DeepMind Disbands AlphaFold Team as AI Strategy Shifts Toward Gemini

(Updates to add Google DeepMind's response in the fifth paragraph.)Alphabet's (GOOG) Google DeepMind has dismantled the team behind its Nobel Prize-winning AlphaFold artificial intelligence system, reassigning most researchers to Gemini-related projects and other scientific initiatives as it shifts its research strategy, the Financial Times reported.The report said many AlphaFold researchers have moved to projects involving Google's Gemini large language model, enzyme design, nuclear fusion and genomics, while others joined Alphabet's drug discovery unit, Isomorphic Labs.DeepMind told the Financial Times that the changes reflect a broader strategy of building Gemini-powered systems that can assist scientists and automate parts of scientific research while competing with OpenAI and Anthropic in frontier AI.According to the report, AlphaFold will continue to be developed despite the restructuring, with its research integrated into DeepMind's broader scientific and artificial intelligence programs rather than managed by a dedicated team.A Google DeepMind spokesperson toldin an emailed response that many of its researchers behind AlphaFold continue to drive scientific and technological advances across Google, Google DeepMind, and Isomorphic Labs.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $331.35, Change: $-1.25, Percent Change: -0.38%

$GOOG$GOOGL
Meta Partners With BlackRock Over $14 Billion Data Center Project
US Markets

Meta Partners With BlackRock Over $14 Billion Data Center Project

Meta Platforms (META) and asset manager BlackRock (BLK) have teamed up to develop a data center campus in El Paso, Texas, at a cost of roughly $14 billion, the companies said Tuesday.Technology giants are ramping up investments to support their artificial intelligence initiatives. Meta is targeting capital expenditures of $125 billion to $145 billion this year, including for data center buildouts.The Facebook and Instagram parent said Tuesday it will invest more than $10 billion in the El Paso facility.Meta intends to use the entire data center campus under an initial four-year lease agreement, with a maximum lease term of 20 years, according to a joint statement.The partnership "allows us to move faster and at greater scale -- pairing our deep expertise in designing and operating world-class data centers with one of the world's leading infrastructure investors," Meta Chief Executive Mark Zuckerberg said.BlackRock-managed funds will own an 80% interest in a venture to be formed with Meta, which will take the remaining 20% stake in it."Companies around the world are looking for long-term strategic partners to help develop their most important projects, and BlackRock is built to meet that need," BlackRock CEO Larry Fink said.Meta, along with Alphabet (GOOG, GOOGL), Amazon.com (AMZN) and Microsoft (MSFT), are expected to spend $650 billion in capex, compared with $410 billion last year, asset management firm Bridgewater Associates said in February.Some companies have sought financing for their AI initiatives, like CoreWeave (CRWV), which in March announced an $8.5 billion loan facility to expand its AI cloud platform.Meta and BlackRock expect to close the deal in the coming days, with an aim to start capacity deployment in 2028.The announcement comes ahead of Meta's second-quarter results, due out after market close on Wednesday. Shares of Meta were flat intraday Tuesday, while those of BlackRock advanced by 3.2%.Price: $592.89, Change: $-0.98, Percent Change: -0.17%

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