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Source document· July 26, 2026

Alphabet Raises AI Spending But Still Can't Meet Demand: 'We're Still in a Supply Constraint Environment'

View original at finance.yahoo.com
Alphabet Raises AI Spending But Still Can't Meet Demand: 'We're Still in a Supply Constraint Environment' Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below…
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  • Alphabet's higher AI spending could potentially trigger a new capital expenditure arms race among tech companies.

    60% confidence

  • Alphabet remains in a supply constraint environment, a condition reiterated for multiple consecutive quarters, driven by very strong demand from both external cloud customers and across the business.

    60% confidence

  • Google Cloud's performance was the most important number in Alphabet's quarter, reflecting strong enterprise AI demand.

    60% confidence

  • Demand for Alphabet's AI models is translating into strong token usage across developers and enterprise customers, and the company continues to be supply constrained, which he called a sign of momentum and rapid adoption.

    60% confidence
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What we're seeing
Q4 2026 Biopharma Catalyst Cluster: Late-Stage Readouts and Regulatory Milestones
October 2026 brings a dense run of Phase 3 wins (ALOFT-IPF, RESTORE-3), new data presentations (Roche, Bayer, Lilly, Vertex, Galderma) and regulatory steps (FDA acceptance of Roche's vamikibart BLA, Scholar Rock's EMA resubmission). The next big catalyst is the ivonescimab FDA PDUFA date on 2026-11-14. Obesity combination studies (REDEFINE 4, TOGETHER-PsO) and the 2027 Maritime-1 completion point to more catalysts ahead. QAIAx's speculative AI-linked trial claims (the QIII pilot, targeted for 2027) are an unrelated micro-cap sideshow with weak evidence, and have little in common with the large-cap pipeline news.
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EPKINLY Regulatory-Clinical Success Cascade
High probability of expanded label indications, additional combination approvals, and competitive positioning strength in follicular lymphoma market. Predicts positive commercial uptake and potential accelerated review for related indications.
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Where sources disagree
ING Group
Both facts record the same metric (shares_outstanding) for ING Group at the identical observation date (2025-12-31). FACT A states 2,902,437,688 shares; FACT B states 2,902 million shares (2,902,000,000). The difference is 437,688 shares (~0.015%). This is a genuine value conflict, though the discrepancy appears to result from FACT B rounding to the nearest million while FACT A provides the precise count.
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Alphabet Raises AI Spending But Still Can't Meet Demand: 'We're Still in a Supply Constraint Environment' — Source | Via News | Finance Via News