Alphabet’s Gemini delay, spending worries loom over earnings

Alphabet faces significant earnings concerns as investors react to the Gemini 3.5 Pro AI delay. The company's stock dropped over 4% following the news. Market anxiety is further intensified by spending worries, with capex estimated between $180-190B. As the July 22 earnings date approaches, investors are questioning the broader AI trajectory of Big Tech. These combined factors of product delays and high capital expenditures are creating a cautious atmosphere surrounding Alphabet's financial outlook.