Alphabet, Amazon and Apple all exceeded Wall Street expectations in their latest quarterly reports, highlighting resilient demand for cloud services and consumer hardware while signalling that capital spending on artificial-intelligence infrastructure will keep rising. Amazon’s second-quarter net sales climbed 13% to $167.7 billion, producing earnings of $1.68 a share and operating income of $19.2 billion, well above analyst forecasts. Amazon Web Services grew 17.5% to $30.9 billion. The company projected third-quarter revenue of $174 billion to $179.5 billion and operating income of up to $20.5 billion. Apple posted its strongest growth since 2021, with fiscal third-quarter revenue up 10% to $94.04 billion and earnings of $1.57 a share. iPhone sales advanced 13% to $44.58 billion and services revenue reached a record $27.42 billion. Chief Executive Officer Tim Cook said Apple is "significantly" increasing investment in artificial intelligence and remains open to acquisitions that speed its roadmap. Alphabet set the tone for the earnings season a week earlier, reporting second-quarter revenue of $96.43 billion and earnings of $2.31 a share. Google Cloud revenue surged 32% to $13.62 billion. Citing strong AI-related demand, the company lifted its 2025 capital-expenditure plan to about $85 billion—$10 billion above its previous target—and signalled another increase in 2026. Taken together, the results suggest that both corporate technology spending and consumer appetite for premium devices remain robust, and that the industry’s multi-billion-dollar push to build out AI-ready data-centre capacity is likely to accelerate over the next two years.