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. Reuters
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. Reuters
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. Reuters
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. AP News
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. PwC
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.
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.
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.
