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Real-time News
On July 23, Google revealed in a quarterly filing that its future contract spending commitments reached $811 billion as of the end of June, an increase of nearly $500 billion from three months prior. These figures, disclosed separately from Googles capital expenditure budget, represent purchases already made under supply agreements and outstanding purchase orders. Approximately $200.7 billion of these are short-term purchases. These commitments cover a wide range of areas, including chips, data centers, power, inventory, and content licensing. This significant increase highlights the rapid pace at which Google is locking up resources as it expands the infrastructure supporting its artificial intelligence business. This disclosure further demonstrates the astonishing scale of its AI infrastructure development. Googles parent company, Alphabet, stated on Wednesday that it expects to invest approximately $195 billion to $205 billion in capital expenditures alone this year to compete with companies like Microsoft, Meta, and Amazon in expanding AI computing power.Amazon (AMZN.O) fell 5%, its biggest intraday drop since February 6.Market news: Alphabet (GOOG.O) has pledged to spend $811 billion in the future.On July 23, Shanghai Mayor Gong Zheng met with a cross-party delegation of parliamentarians led by McAleester, Chairman of the European Parliaments Foreign Affairs Committee. Gong Zheng stated that he looks forward to further deepening cooperation with the EU in areas such as trade, industrial investment, and cultural exchanges, and supports outstanding enterprises to invest and operate in each others countries, bringing more beneficial results to Sino-EU friendly exchanges. He hoped that the European Parliaments Foreign Affairs Committee would leverage its strengths to support the EU in strengthening all-round cooperation with Shanghai, making greater contributions to the healthy and stable development of Sino-EU relations.According to Reuters calculations, Russias state oil and gas tax revenue is expected to increase by 60% year-on-year in July, reaching 1.3 trillion rubles, thanks to rising global oil prices.