GOOGLE'S SHOW ON THURSDAY MORNING

On 22 July, after the United States stock held on 22 July at local time (23 a.m. Beijing time) Alphabet, the Google parent company, will announce performance for the second quarter, but the real focus of the market is not on single-season profit performance, but on whether management will further adjust the AI Capital Expenditure (Capex) guidelines. According to Robert Castrano, President of the Industry Network, who has more than 40 years of experience in research in the science and technology industry, several industrial chain signals indicate that Alphabet's previous offer of $180 - $190 billion in 2026 Capex may have been conservative. Alphabet ' s investment in the AI infrastructure for the coming years is likely to maintain the upward trend as the construction of the AIS data centre continues to accelerate and the demand for cloud computing continues to grow strongly. Castrano anticipates that Alphabet will, perhaps in the financial statements, increase the 2026 capital expenditure guidelines to $190 billion-2000 billion, while maintaining the related statement that the 2027 expenditure will be close to $300 billion. At the same time, Deutsche Bank has significantly increased projections of future capital expenditure in Alphabet. Germany expects that Alphabet will reach about $325 billion in 2027, up significantly from previous projections of $250 billion; capital expenditure may rise further to $365 billion to $37 billion in 2028. If this trend materializes, it means that the AI infrastructure investment cycle continues to expand, and the market has previously been concerned about the upcoming peak of AI capital spending and the slowdown in growth dynamics, or will face repricing。