Google reports 12th consecutive quarter of strong revenue gains

Google's parent company, Alphabet, reported double-digit revenue growth for its second-quarter earnings on Wednesday. This is the tech giant's 12th consecutive quarter of massive revenue gains. The better-than-expected results come as investors evaluate how Alphabet's huge spending on AI has affected its bottom line and what its long-term plans are to sustain those enormous investments. The company revised its yearly capital expenditure forecast to $200bn, with quarterly spending growing 100% year over year. Alphabet is already one of the top five most valuable companies in the world, worth about $4.2tn.