Google parent Alphabet plans to spend $10 billion more in capital expenditures this year than previously anticipated as the company works to meet surging demand for Google Cloud.

Asian shares retreated on Friday after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks helped offset a steep tumble for EV-maker Tesla. Japan’s Nikkei 225 fell 0.

AI upstarts were supposed to lay siege to Google’s search-engine dominance. So far, the defense is winning, writes Asa Fitch, following second-quarter results from parent company Alphabet. A: Google’s

It's also likely that the pullback in ServiceNow on Friday was due to some profit-taking by opportunistic investors. The market was clearly impressed with the company's second-quarter earnings report published late Wednesday; it notched convincing beats on both the top and bottom lines, after all.

Tesla’s star is fading -- here’s why two AI powerhouses with stronger growth and better valuations deserve your attention instead.

Alphabet , faced with unprecedented threats from AI rivals, will be keen to assure investors this week that the company's own spending on the technology is helping it dig a deeper moat around its search and advertising businesses.

Wall Street inched to more records Thursday as gains for Alphabet and artificial-intelligence stocks helped make up for Tesla’s steep tumble. The S&P 500 added 0.1% to its all-time high set the day before.

Alphabet's Q2 results showed strong revenue growth across segments, with Search maintaining double-digit growth despite concerns. Learn more on GOOGL stock here.