Signage outside the Google headquarters in Mountain View, California, US, on Tuesday, Feb. 3, 2026. <\/p>\n
David Paul Morris | Bloomberg | Getty Images<\/p>\n
Alphabet’s<\/a> fourth-quarter earnings and revenue beat Wall Street expectations. Its cloud unit dazzled, notching a nearly 48% increase in revenue from a year earlier. <\/p>\n The tech giant expects capital expenditure for 2026 to come in between $175 billion and $185 billion \u2014 at the higher end, capex will more than double from last year. The huge increase appears to have spooked investors: Alphabet shares fell as much as 3% in extended trading.<\/p>\n Artificial intelligence stocks have been having a difficult time this week. Advanced Micro Devices<\/a> shares tanked 17.3% during regular trading on its disappointing first-quarter forecast<\/a>. Other AI-related names, such as Broadcom<\/a> and Oracle<\/a>, also fell.<\/p>\n The tech-heavy Nasdaq Composite<\/a> lost 1.51% and the S&P 500<\/a> retreated 0.51%, clocking its fifth negative session in six. However, the Dow Jones Industrial Average<\/a> rose 0.53%, lifted by Amgen<\/a> and Honeywell<\/a>. <\/p>\n While sentiment around AI plays has been hit, CNBC Investing Club creator Jim Cramer is still optimistic on South Korean chipmakers. Samsung Electronics and SK Hynix are “visionary” companies, Cramer said on CNBC’s “Squawk Box Asia<\/a>,” adding that he would have wanted to work for them if he lived in the country.<\/p>\n Oil prices slipped around 1% <\/strong>following reports that U.S. and Iran will be having talks in Oman on Friday<\/a>. <\/p>\n In other oil news, Venezuela assured China that its oil pricing will not be set by the U.S.<\/a>, and Russia insisted that India hasn’t said it would be stopping oil purchases<\/a> from Moscow, despite Trump suggesting so<\/a>. <\/p>\n \u2014 CNBC’s Jennifer Elias contributed to this report.<\/p>\n What you need to know today<\/p>\n Panama will ‘pay a heavy price’ <\/strong>if it doesn’t change course, the Hong Kong and Macao Affairs Office of the State Council said Tuesday. The Panama Supreme Court ruled to void Hong Kong-based\u00a0CK Hutchison<\/a>‘s license to operate ports at either end of the canal \u2014 widely seen as a victory for Trump<\/a>.<\/p>\n Sen. Tim Scott said he thinks<\/strong> Powell didn’t commit any crime <\/strong>when the Fed chair testified before the Senate<\/a> last year. Meanwhile, Sen.\u00a0Thom Tillis<\/a>\u00a0on Wednesday doubled down on blocking<\/a> Kevin Warsh’s nomination\u00a0for Fed chair until the\u00a0investigation into Powell ends.<\/p>\n U.S. plans critical mineral price floors <\/strong>with Mexico, the European Union and Japan, the U.S. trade representative said Wednesday. The Trump administration has put critical minerals at the center of its trade and industrial policies to reduce dependence on China<\/a>.<\/p>\n Major U.S. indexes mostly sold off on Wednesday, <\/strong>with the S&P 500 suffering back-to-back losses<\/a>, weighed down by tech stocks. The pan-European Stoxx 600<\/a> was mostly unchanged<\/a>. Shares of Denmark-listed Novo Nordisk plunged 17.2%.<\/a><\/p>\n [PRO] Analysts are worried about AMD’s profitability<\/strong>, with several expressing concerns over the chipmaker’s operating expenses<\/a> and overall profitability. Here’s what Wall Street is saying.<\/p>\n