Alphabet, Google's parent company, saw its shares drop over 3% in early trading on Wednesday following announcements of increased expenses due to intensifying competition in search and cloud computing. The company's second-quarter report revealed capital expenditures totaling $13 billion, with CFO Ruth Porat warning investors during her final conference call that expenditures for the remainder of 2024 are anticipated to remain at or exceed $12 billion per quarter.
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