Alphabet Previews Q2 Earnings With AI Capex Unabated After July Privacy Expansion

The story culminates on July 13 with Alphabet’s Q2 preview highlighting sustained $190 billion AI spending amid 2.5% share declines. It began with May I/O launches of Gemini Omni and AI Overviews, progressed through June releases of Gemini 3.5 Flash computer-use agents, Nano Banana 2 Lite, and Gemini Omni Flash, and ended with the July 12 rollout of default Search Services History settings that automatically enroll user photos, voice clips, and files for AI training unless manually opted out. Shares rose 1.11% after the June 30 launches even as DuckDuckGo installs jumped 40% week-over-week and Gen-Z excitement for AI fell 14%.