New York, Feb 3, 2026, 10:50 ET — Regular session
- Alphabet Class C shares slipped roughly 0.6% in late morning trading
- Google Cloud inked a five-year AI deal with Liberty Global
- Traders are gearing up for Alphabet’s earnings, set to drop after the U.S. market closes on Feb. 4
Alphabet’s non-voting Class C shares slipped 0.6% to $342.93 in late morning trading Tuesday, following an earlier peak at $350.18.
The stock’s wobble arrives just a day ahead of Alphabet’s quarterly earnings release. Executives will field questions during a webcast at 4:30 p.m. ET on Wednesday.
Timing is key since Alphabet now plays a pivotal role in the wider “AI trade”—investors are looking for proof that heavy investment is driving cloud growth and steady ad demand. Options prices suggested traders expected a move exceeding 5% from Monday’s close, according to Investopedia, as focus shifts to capital spending plans and remarks on Google Cloud. Investopedia
On Tuesday, Google Cloud and Liberty Global announced a five-year deal to roll out Google’s Gemini AI models and additional cloud services throughout the cable giant’s European units. Liberty Global CEO Mike Fries called the expanded collaboration “a significant milestone” for the company. Reuters
Alphabet tumbled amid broad pressure on megacap tech stocks. The Nasdaq-focused Invesco QQQ Trust dipped roughly 1.3%. Microsoft dropped close to 2.8%, and Meta slipped around 1.6%.
On Monday, Alphabet closed at $344.90.
Investors want a clear update on ad pricing and volume trends at Google Search and YouTube, plus any signs that Google Cloud’s growth might be hitting capacity limits. They’ll also zero in on the pace of cost increases, particularly capital expenditures tied to data centers, chips, and servers.
There’s a straightforward risk here: even a strong quarter can fall short if guidance feels cautious or if the company hints at increased spending with no clear margin improvement in sight. The Liberty Global deal makes strategic sense, but it won’t resolve the bigger question of when AI gains will actually appear in the financials.
Wednesday brings the earnings release followed by the 4:30 p.m. ET conference call. Investors will zero in on cloud growth, AI investments, and the pace at which new products are generating revenue.
