Alphabet reported impressive fourth-quarter results, with revenue up 18% to $113.83 billion and EPS increasing 31% to $2.82, beating estimates. The company’s search, network, and cloud businesses performed well, offsetting a slight underperformance in YouTube. Alphabet plans to increase capital expenditures to $175-185 billion, driving growth through AI investments. CEO Sundar Pichai highlighted AI’s role in revenue and growth acceleration. Despite initial concerns, AI adoption has not cannibalized Search revenue, with usage reaching record highs. Investors are pleased with Alphabet’s spending strategy, driving significant growth.

Read more at CNBC: Alphabet’s strong quarter eases fears about the search giant’s sky-high spending