Live markets: Bitcoin trades above $65,000 as Alphabet's bigger AI bill props up the chip trade
CoinDesk·
60-second summary
Alphabet's AI spending forecast is raised again, sending its stock lower after hours despite beating revenue expectations. The chip complex, which bitcoin tracks, sees this as a bullish sign, with more spending indicating a strong demand for AI chips. Bitcoin trades above $65,000, benefiting from the increased chip trade optimism and potential AI-driven growth.
Alphabet beat on revenue but raised its AI spending forecast again, sending its stock lower after hours. For the chip complex bitcoin tracks, more spending is the bullish read.