Alphabet's profit grows to $112 billion in Q2, cloud revenue grows 82%

Google parent Alphabet's profit grew to $112 billion year-on-year in the second quarter, as its revenue grew 24%. The company's revenue from its cloud business grew 82% fuelled by a strong demand for AI infrastructure, the firm said. Alphabet raised its capital expenditure for this year to between $195 billion and $205 billion from $180 billion to $190 billion.