MoneyThe story, in brief
Google wraps up best month since 2004 as earnings push Alphabet stock up 34% in April
34%. That's how much Alphabet stock jumped in April as AI capex bets finally paid off—while Meta's identical spend plan tanked their shares.
The KeyNews take
Why it matters
Investor appetite for AI infrastructure spending is bifurcating: Alphabet's earnings-backed capex narrative is winning with Wall Street, while Meta faces skepticism on ROI. This signals a critical shift in how the market values compute commitment without demonstrated returns.
The key facts
5 to knowAlphabet stock up 34% in April 2026
Both Alphabet and Meta signaled increasing capex for 2026
Meta stock declined despite matching capex growth guidance
Market divergence on capital expenditure strategy among mega-cap AI investors
Alphabet's earnings performance tied to capex narrative
Go to the source
CNBC Technologycnbc.com
Publisher excerpt: Both Alphabet and Meta said they expect their capital expenditures to keep growing this year, but investors sent Alphabet's shares up, while Meta's stock slid.