Google parent Alphabet Inc.’s shares dropped in premarket trading after slower growth in its cloud business contributed to lower-than-expected revenue in the fourth quarter.

Alphabet will face investor scrutiny over its massive spending on AI when it reports earnings on Tuesday, as revenue growth at the Google parent likely slowed in the holiday quarter due to a slowdown in its advertising and cloud businesses.

Alphabet (GOOGL), the parent company of Google, has announced a $75 billion capital expenditure budget for 2025. This reflects a large increase