Alphabet Shares Surge on Cloud Gains as AI Spending Weighs on Microsoft and Meta

Alphabet shares surged following strong third-quarter earnings that exceeded analyst expectations, particularly driven by robust growth in its cloud-computing unit, while Microsoft and Meta stocks declined amid investor concerns over soaring artificial intelligence spending. As reported by Bloomberg's Stock Movers podcast, Alphabet's performance highlighted its gains in the cloud market, positioning it as a key challenger to leaders like Microsoft Azure and Amazon Web Services, with shares climbing as much as 7.5% in extended trading.