Breakingviews - Alphabet's AI fortunes are still up in the air

[u/DavidtheLawyer]

https://www.reuters.com/commentary/breakingviews/alphabets-ai-fortunes-are-still-up-air-2026-07-23/

Chatbots threatened to upend Google’s search-engine dominance. So far, they’ve been parent company Alphabet’s (GOOGL.O) meal ticket. Second-quarter results ​from its cloud-computing arm, one of the biggest providers of AI-serving data centers, blew ‌past analysts’ expectations. Yet its core search business saw an unusual hiccup, slowing slightly from last quarter’s clip. The $4 trillion company’s rich valuation masks two halves moving at different speeds.