New York, January 29, 2026, 10:57 EST — Regular session.
- Alphabet’s non-voting GOOG shares dipped following a brief surge to a new intraday peak
- Big Tech stocks shifted as investors pushed for returns amid ramped-up AI investments
- Google settled an Android data lawsuit for $135 million; Alphabet set to report earnings on Feb. 4
Alphabet’s non-voting Class C shares (GOOG) dropped 2.5% to $328.00 in early trading, after hitting a peak of $342.91 during the session. The stock had opened at $340 before pulling back.
The shift came amid a tough day for growth stocks, with investors digesting fresh Big Tech earnings and fresh AI-related spending announcements. “It’s going to be a show me the money story for AI,” said Adam Turnquist, chief technical strategist at LPL Financial, as Microsoft slipped and the tech-heavy Nasdaq dropped. 1
Microsoft’s update turned attention squarely on costs and margins, beyond just the revenue numbers. “Revenues are up 17% and the cost of revenues are up 19%,” noted Eric Clark, portfolio manager at the LOGO ETF. His remark summed up growing concern that AI-related capital spending is accelerating faster than returns. 2
Alphabet landed in new legal trouble as Google agreed to fork over $135 million to settle a class action alleging Android collected cellular data without users’ consent. Plaintiffs’ attorney Glen Summers called the payout “the largest ever in a conversion case,” referring to claims over wrongful taking of property. The settlement still awaits a judge’s green light. 3
Google rolled out new AI tools for Chrome, spotlighting image generation and editing capabilities alongside a virtual assistant that operates from a side panel during browsing. The firm also highlighted an “auto browse” feature available on paid plans, designed to manage multi-step online tasks—though users must still sign off on final moves like purchases. 4
PwC is stepping up its cloud and AI push with a $400 million, three-year collaboration investment alongside Google Cloud, zeroing in on AI-driven security operations. “Security professionals are under pressure to move faster and operate smarter,” said Morgan Adamski, PwC’s deputy leader for cyber, data, and technology risk. 5
The broader market remained under pressure. The Invesco QQQ, tracking the Nasdaq 100, dropped roughly 2%, and the SPDR S&P 500 ETF lost about 1.2%. Microsoft plunged nearly 12%, Nvidia slipped just over 2%, but Meta gained around 7%.
Alphabet will release its fourth-quarter and full-year 2025 earnings on Feb. 4, with a conference call scheduled for 4:30 p.m. Eastern, the company announced. Investors are keenly focused on ad demand, YouTube performance, Google Cloud’s growth and margins, plus any insights on AI-related spending and monetization. 6
Google is pushing back in court, asking a judge to delay an order that would require it to share data with competitors while it appeals a ruling that labeled its online search monopoly illegal. The Justice Department and several states face a February 3 deadline to decide whether to challenge the remedies ruling. Meanwhile, a separate consumer antitrust lawsuit over search dominance is also progressing. 7
Traders have a packed schedule ahead: Apple reports Thursday, followed by the antitrust deadline on Feb. 3, and then Alphabet’s earnings and call on Feb. 4.
