Alphabet reported better-than-expected second quarter 2026 results with revenue of $119.8 billion, up 24% year-over-year, marking its twelfth consecutive quarter of double-digit growth. Google Cloud surged 82% to $24.8 billion while advertising revenue grew 15% to $94.5 billion. The group raised its 2026 capital expenditure guidance to a range of $195 to $205 billion to fund the AI infrastructure race. A major AI leadership reorganization, with Jeff Dean’s departure and Demis Hassabis’s repositioning, caused the stock to drop approximately 4% on August 5, 2026, reigniting doubts about Google’s ability to retain talent against OpenAI and Anthropic. The stock currently trades at $360.13, giving the company a market capitalization of $4.404 trillion.
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