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Alphabet stock jumped 4% Thursday after the company reported third-quarter financial results that beat across the board and increased its capital expenditures for the year.

The Google parent company bumped its spending expectations on artificial intelligence infrastructure to $91-$93 billion from $85 billion the prior quarter, noting continued strong cloud demand.

CEO Sundar Pichai said the company had a $155 billion backlog for Google Cloud at the end of the quarter.

"Looking out to 2026, we expect a significant increase in CapEx," Chief Financial Officer Anat Ashkenazi told investors on the earnings call Wednesday.

Deutsche Bank said in a note that there was "virtually no hair on the pr

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