$谷歌(GOOG)$$GOOGL stock buyback

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$谷歌(GOOG)$$GOOGL stock buybacks stay at zero, but CapEx nearly doubles YoY. Alphabet spent $44.9B on capital expenditures in Q2'26, while stock repurchases stayed at $0 for a second straight quarter, down from $13.2B YoY. The trade-off is explicit: compute capacity over capital returns.

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