Alphabet Increases Capital Expenditure Guidance
Alphabet Inc. (NASDAQ: GOOG, GOOGL) has raised its capital expenditure guidance for 2023 from a range of $180 billion to $190 billion, now setting the range at $195 billion to $205 billion. This announcement was made during its Q2 earnings release and signals the company’s strong commitment to expanding its cloud computing and AI capabilities.
The increase is expected to benefit key suppliers such as Nvidia (NASDAQ: NVDA), Micron (NASDAQ: MU), and Broadcom (NASDAQ: AVGO), as they provide essential computing units and memory chips that Alphabet relies on. For instance, Micron’s revenue is projected to grow by 349% in the next quarter, driven by rising memory chip prices—an issue also affecting Alphabet’s capital expenditures.
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