A pedestrian walks by a sign at Google headquarters on Feb. 4, 2026 in Mountain View, California.
Justin Sullivan | Getty Images
Alphabet’s fourth-quarter earnings and revenue beat Wall Street expectations. Its cloud unit dazzled, notching a nearly 48% increase in revenue from a year earlier.
The tech giant expects capital expenditure for 2026 to come in between $175 billion and $185 billion — 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%, before paring losses to 0.39%, in extended trading.
But at least one name is benefiting from the news. Shares of Broadcom rose more than 6% in extended trading — the firm manufactures custom chips for Alphabet.
That helped Broadcom recoup some losses from the regular trading session, when it lost 3.8%, along with other tech stocks like Advanced Micro Devices — which tanked 17.3% on its disappointing first-quarter forecast — and Oracle.
The tech-heavy Nasdaq Composite lost 1.51% and the S&P 500 retreated 0.51%, clocking its fifth negative session in six. However, the Dow Jones Industrial Average rose 0.53%, lifted by Amgen and Honeywell.
While investor confidence of 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,” adding that he would have wanted to work for them if he lived in the country.
The sentiment around silver, however, is still shaky. Prices of the metal slid as much as 16% on Thursday, snapping a two-day rebound.
In Europe, French bank BNP Paribas reported fourth-quarter earnings that surpassed estimates and hiked its target for net income between 2025 and 2028, but Shell missed targets for its fourth-quarter profit.
Meanwhile, the European Central Bank and the Bank of England will announce their monetary policy decision on Thursday — but neither bank is expected to make any moves to the rate.
— CNBC’s Jennifer Elias contributed to this report.
What you need to know today
U.S. proposes a critical mineral trade bloc, unveiling on Wednesday stateside initiatives to mobilize allies, such as a coordinated price floor and expanded access to financing in the sector. Following a “Critical Minerals Ministerial” this week, Washington announced that it had signed bilateral agreements with 11 countries.
The EV market in China continues slowing down. BYD reported a nearly two-year low in local sales in January, while at least six major electric car brands, from Xiaomi to Xpeng, reported a sharp sales drop in January from December, according to CNBC’s analysis.
China reasserts its stance on Taiwan. Chinese President Xi Jinping on Wednesday urged his U.S. counterpart Donald Trump to “handle the issue of arms sales to Taiwan with prudence.” Trump said that he and Xi discussed Iran, Russia’s war in Ukraine, China’s energy purchases and his upcoming visit in April.
Major U.S. indexes mostly sold off on Wednesday, with the S&P 500 suffering back-to-back losses, weighed down by tech stocks. Asia-Pacific markets declined Thursday. South Korea’s Kospi led losses, while the Hang Seng Tech Index entered a bear market.
[PRO] Analysts are worried about AMD’s profitability, with several expressing concerns over the chipmaker’s operating expenses and overall profitability. Here’s what Wall Street is saying.
And finally…
Why Asia’s richest man and BlackRock CEO want Indians to pick equities over gold
BlackRock CEO Larry Fink and Reliance Industries Chairman Mukesh Ambani want Indians to invest in the country’s equity markets instead of gold.
The advice comes at a time when the yellow metal has been witnessing heightened volatility, while Indian stocks have been underperforming with the Nifty 50 down nearly 2% so far this year.
A large portion of domestic savings in gold and silver “are unproductive,” Ambani said during a fireside chat with Fink on Wednesday, adding that money in the “stock market is compounding.”
— Priyanka Salve