Amid uncertainty about the future of artificial intelligence (AI), Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) sought to address investor fears when the company reported its quarterly results after the market close on Wednesday. What became immediately apparent is that while relentless demand for AI continues to drive rapid cloud growth, Alphabet is investing heavily to capitalize on that opportunity at hand. Investors viewed falling profits as the canary in the coal mine -- but the devil is in the details.
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