The company raised its anticipated capex for the year to between $195 billion and $205 billion, up from its prior estimate of $180 billion to $190 billion. For the second quarter, Alphabet reported earnings per share of $9.11 on revenue of $119.8 billion. Cloud revenue increased a whopping 82% year over year, jumping to $24.77 billion, outpacing the $24.56 billion analysts expected and well ahead of the $13.6 billion it brought in last year. Alphabet CEO Sundar Pichai speaks at a Google I/O event in Mountain View, Calif., on May 19, 2026. (AP Photo/Jeff Chiu) · AP Photo/Jeff ChiuAlphabet's Google, like its AI rivals, is also under constant pressure to release ever more powerful AI models.