Google Tests Major Support as AI Spending Fears Return

Alphabet (Google) shares fell 5% as investors question whether massive AI infrastructure spending will generate sufficient returns. While Google's fundamentals remain strong with 22% revenue growth and $460B+ cloud backlog, the market demands proof that extraordinary AI investments will create proportional returns. The stock has reached a technical support zone at $337.47-$349.00, with potential for a relief rally if it reclaims $349-$352, though broader macro headwinds from rising Treasury yields and Fed tightening concerns persist.