Google parent Alphabet Inc.’s shares dropped in premarket trading after slower growth in its cloud business contributed to lower-than-expected revenue in the fourth quarter.

Alphabet has been spending heavily on an infrastructure development to support AI research and integration into products such as search and cloud services. The majority of capex f

Alphabet said on Tuesday it will spend $75 billion on its AI buildout this year, 29% more than Wall Street expected, and investors signaled disappointment at a missed cloud revenue target and began showing impatience over profitability.