Bitcoin traded near $65,400 on Thursday, down 0.3% on the day and up 1.4% on the week, according to data from CoinDesk.
The market remained quiet during Alphabet’s earnings, the report had been waiting all week for a reading on AI spending.
Alphabet issued a split verdict. Revenue rose 24% to $119.8 billion and cloud grew 82%, both above expectations, but the company again raised its 2026 capital spending forecast to $195 billion to $205 billion, from $180 billion to $190 billion, citing a “supply-constrained” struggle to meet demand. demand for AI.
Its shares fell after hours as investors weighed higher spending against lower free cash flow.
Alphabet’s own shareholders may not like a bigger bill, but chip stocks have rallied thanks to increased capital investment in AI infrastructure. Asian chipmakers rose again on Thursday, with the Kospi up 3.6% and Samsung and SK Hynix rising more than 2% on bets they will capture some of that spending.
The majors remained flat. Ether held near $1,916, XRP at $1.13 and Solana at $77, with Hyperliquid as an outlier, down 11% on the week. Oil continued to rise, extending a July rally that has revived concerns about inflation.
The next test is the Federal Reserve on July 28 and 29.
