A sign outside Google’s headquarters in Mountain View, California, on Tuesday, February 3, 2026.
David Paul Morris | Bloomberg | Getty Images
of the alphabet Fourth-quarter earnings and sales exceeded Wall Street expectations. The company’s cloud division has delivered impressive results, increasing revenue by nearly 48% year over year.
The technology giant expects capital spending to be between $175 billion and $185 billion in 2026. Once the cap is reached, capital spending will be more than double what it was last year. The large rally appeared to surprise investors, with Alphabet shares falling as much as 3% in after-hours trading.
Artificial intelligence stocks have had a tough time this week. advanced micro device Shares plunged 17.3% during regular trading after the company’s first-quarter outlook was disappointing. Other AI-related names: broadcom and oraclealso fell.
High-tech oriented Nasdaq Composite lost 1.51%; S&P500 It retreated by 0.51%, marking the fifth negative session out of six. however, Dow Jones Industrial Average 0.53% increase, amgen and honeywell.
Although sentiment around AI trends has taken a hit, CNBC Investing Club founder Jim Cramer remains optimistic about South Korean chipmakers. Kramer told CNBC’s “Squawk Box Asia” that Samsung Electronics and SK Hynix are “forward-thinking” companies, adding that he would have wanted to work for them if he lived in this country.
Oil prices fell by about 1% following reports that the United States and Iran will hold talks in Oman on Friday.
In other oil news, Venezuela assured China that oil prices are not set by the US, and Russia insisted India had not said it would stop buying oil from Moscow, despite President Trump’s suggestion.
—CNBC’s Jennifer Elias contributed to this report.
What you need to know today
The Hong Kong and Macau Affairs Office of the State Council said on Tuesday that Panama would “pay a heavy price” if it did not change course. Panama’s Supreme Court has ruled to invalidate the license of Hong Kong-based CK Hutchison, which operates ports at both ends of the canal, in what is seen as a victory for Trump.
Sen. Tim Scott said he doesn’t believe Powell committed any crimes when the Fed chairman testified in the Senate last year. Meanwhile, Sen. Thom Tillis on Wednesday doubled down on his stance to block Kevin Warsh’s nomination as Fed chairman until the investigation into Powell is concluded.
The Office of the U.S. Trade Representative said Wednesday that the United States is planning key mineral price floors with Mexico, the European Union and Japan. The Trump administration has put critical minerals at the center of its trade and industrial policies to reduce dependence on China.
Major U.S. indexes were mostly sold off on Wednesday, with the S&P 500 continuing to fall, weighed down by tech stocks. pan-european Stocks 600 Almost nothing changed. Shares in Denmark-listed Novo Nordisk plunged 17.2%.
(PRO) Analysts are concerned about AMD’s profitability, with some voicing concerns about the chipmaker’s operating expenses and overall profitability. Here’s what Wall Street is saying.
And finally…
For Chinese companies, it’s not about which AI is the smartest
Will the US or China win the artificial intelligence race? This is a big question for investors considering where to invest their money.
However, I frequently find that many companies in China are asking a different question. “What AI tools can help you survive in a tough economy?”
All of this means that investors who pick AI winners based solely on smarts may miss the bigger story.
— Evelyn Chen
