Alphabet shares rise as executive paints bright AI investments outlook
Alphabet's GOOGL.O shares are up 2% to $177.99 on Wed after an executive reiterated that the tech giant will be doubling down on AI investments, primarily technical infrastructure
GOOGL shares are poised for gains after two straight sessions of losses
"As our CEO has said, in these early days of a very transformative technology, the risks of under investing are dramatically higher than the risks of over investing," Google APAC Head of AI and Emerging Tech Policy Eunice Huang said during a panel discussion at the Reuters NEXT Asia summit in Singapore on Wed
In April, GOOGL said it is still committed to spending some $75 billion this year on expanding data center capacity
Among 55 analysts that cover GOOGL, avg rating is "BUY" and median PT is $200
Several analysts, including from Oppenheimer and Wells Fargo, have recently raised their PT on GOOGL
GOOGL is down 6.1% YTD vs NASDAQ Composite Index's .IXIC 6.4% increase
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