Crypto market news: Alphabet and Tesla kicked off the tech earnings season on Wednesday, with AI spending becoming the focus. Both companies reported negative free cash flow and told investors to prepare for higher capital expenditures. Although both companies’ revenue beat expectations, it still couldn’t stop their stock prices from falling in after-hours trading—Tesla shares fell 4%, while Alphabet fell by more than 3%. This could be a worrying signal for the tech sector, especially other large tech companies. Analysts noted that Alphabet expects this year’s capital expenditures to reach $195 billion to $205 billion, while Tesla expects more than $25 billion, both indicating strong attention to the AI space.
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