Bitcoin traded near $65,400 on Thursday, down 0.3% for the day and up 1.4% for the week, according to CoinDesk data.
The market remained calm thanks to Alphabet’s results, with the report expected all week for a read on AI spending.
Alphabet delivered a split verdict. Revenue rose 24% to $119.8 billion and cloud rose 82%, both above expectations, but the company again raised its 2026 capital spending forecast to $205 billion from $180 billion to $190 billion, citing a “supply-constrained” rush to meet demand for AI.
Its stock fell after hours as investors weighed heavier spending against weaker free cash flow.
Alphabet shareholders may not like a bigger bill, but that’s what chip stocks have been rallying for more capital into AI infrastructure. Asian chipmakers rose again on Thursday, with the Kospi up 3.6% and Samsung and SK Hynix up more than 2%, betting they would capture some of that spending.
The majors were flat. Ether held near $1,916, XRP at $1.13, and Solana at $77, with Hyperliquid the outlier, down 11% for the week. Oil continued to rise, extending its July rally which reignited inflationary concerns.
The next test will be that of the Fed on July 28 and 29.
