Google Sales Miss Reignites AI Fears, Microsoft Eyes $25B Debt Offering
THE SO WHAT
Alphabet’s softer search and ad numbers are feeding the narrative that AI is eroding core businesses, while Microsoft’s planned $25B bond raise underlines how much capex is still ahead. For operators, the message is simple: AI is reshaping P&Ls and balance sheets at the top of the stack—treat your own AI bets as capital allocation decisions, not side projects.
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