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AI Spending Pushes Alphabet to First-Ever Negative Free Cash Flow Alphabet’s second-quarter capital spending doubled from a year earlier to…

AI Spending Pushes Alphabet to First-Ever Negative Free Cash Flow Alphabet’s second-quarter capital spending doubled from a year earlier to USD 44.92 billion, pushing quarterly free cash flow to a record‑low negative USD 5.86 billion—the company’s first‑ever negative reading. Google Cloud revenue surged 81.8% to USD 24.77 billion and beat expectations, but Alphabet raised its full‑year capital expenditure guidance again, sending its shares down about 3% in after‑hours trading.

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