According to CoinMeta, Google’s parent company Alphabet (GOOG.O) reported quarterly revenue and profits that fell short of market expectations, indicating that the company has not yet been able to generate sufficient returns from its artificial intelligence (AI) business to justify its substantial investments. Alphabet stated that for the three months ending September 30, revenue was $111.2 billion, and earnings per share were $2.12, both of which were lower than Wall Street's forecasts. Google has been aggressively building AI infrastructure for itself and its customers, driving capital expenditures to record levels. These investments have helped Google become one of the top suppliers of computing power to AI companies such as Anthropic and Meta. Google is also developing its own AI models and integrating them into consumer products like its search engine, YouTube, and Gmail. However, relative to the scale of these expenditures, these efforts have not yet yielded corresponding returns. Alphabet's stock price fell by 7.9% in after-hours trading.