Bitcoin traded near $65,400 on Thursday, down 0.3% on the day and up 1.4% on the week, as per CoinDesk data.
The market remained quiet through Alphabet’s earnings, the report that had been waiting all week to read about AI spending.
Alphabet issued a split verdict. Revenue rose 24% to $119.8 billion and cloud grew 82%, both beating expectations, but the company raised its 2026 forecast for capital spending again, to $195 billion to $205 billion from $180 billion to $190 billion, citing a “supply-constrained” struggle to meet AI demand.
Its stock fell after hours as investors weighed heavier spending against leaner free cash flow.
Alphabet’s own shareholders may not like a fatter bill, but more capital pouring into AI infrastructure is what chip stocks have soared on. Asian chipmakers rallied again on Thursday, with the Kospi up 3.6% and Samsung and SK Hynix both up more than 2% on bets they will capture some of that spending.
The majors were flat. Ether held near $1,916, XRP at $1.13 and Solana at $77, with Hyperliquid the outlier, down 11% on the week. Oil continued to rise, extending a rally in July that has revived inflation concerns.
The next test is the Fed on July 28 and 29.
