Google's parent company Alphabet announced its fourth-quarter earnings report, showcasing strong performance with accelerated growth in its cloud and search advertising businesses, indicating that its large-scale investments in artificial intelligence have yielded significant results. The earnings report revealed that Google's search business revenue growth increased from 15% to nearly 17%, while cloud business revenue growth surged by 14 percentage points to 48%, effectively dispelling market concerns that AI chatbots might undermine the search business. The cloud business achieved an annualized revenue of $71 billion, with an operating profit margin rising to 30%, achieving large-scale profitability. However, Alphabet's stock price still declined in after-hours trading as the company announced that its capital expenditures would double this year to $175-$185 billion, exceeding cash flow expectations for 2025. Additionally, it needs to cover AI-related operating expenses, and its total workforce has surpassed the peak seen before the layoffs in early 2023, causing investor unease over AI costs. Market risks exist; invest cautiously.