Alphabet Stock Surges to All-Time High on Google Cloud AI Boom as Meta Plunges

Alphabet shares climbed another 6% premarket on April 30, nearing all-time highs after a 7% after-hours surge on April 29, propelled by Q1 results showing 81% net income growth, Google Cloud revenue up 63% to $20B, and a $460B backlog. The company also raised 2026 capex to $180–$190B, highlighting AI monetization via hyperscale cloud amid supply constraints. Meta shares sank 8–9% despite 33% revenue growth and capex hike to $125–$145B, lacking comparable cloud revenue, as Big Tech's aggregate AI spending nears $725B in 2026, favoring Alphabet's edge.