Happy numbers galore. Net income rose 33% to nearly $35 billion, while earnings per share jumped 35% to $2.87.

Three of the biggest U.S. technology companies flagged plans on Wednesday to accelerate capital spending over the next year but investors were most accepting of Google-parent Alphabet's ability to fund its plans from its cash flow.

Meta Platforms (META), and Microsoft (MSFT) posted their latest earnings results on Wednesday, with all three of the Big Tech names revealing their plans to increase capex spending into AI. Yahoo Finance tech editor Dan Howley talks about the biggest takeaways from each of these companies' earnings results and what they are signaling about investments into artificial intelligence infrastructure,

In the past year, Nvidia stock has advanced 45%, bringing its market value to $5 trillion. More impressive, Palantir Technologies stock has advanced 335%, bringing its market value to $465 billion. That means the companies, in aggregate, are worth about $5.4 trillion.

Q3 earnings hit a record $100B, driven by AI. Google Cloud's AI backlog explodes to $155B as Gemini & AI Search surge.

Alphabet CFO Anat Ashkenazi shared on the third-quarter earnings call that the company recorded $24.46 billion of free cash flow, or the money on hand after a company pays for capital expenditures. This marked a major increase from the June quarter's $5.

Alphabet stock surges 5% after record $100B Q3; Cloud, AI, and Gemini drive growth as analysts turn more bullish.

And because Google controls so many layers of the stack—hardware, data centers, models, and consumer products—it can absorb the cost of AI adoption in a way startups and rivals can’t. It doesn’t have to rent the future on someone else’s platform; it’s already building it.

About an hour after Meta, Microsoft and Alphabet delivered quarterly earnings, shares in the latter were up 5.5 per cent in after-hours trading. The Google parent reported quarterly revenue that surpassed $100bn for the first time.

Elevated levels of artificial-intelligence capital expenditures, and the associated depreciation and amortization costs, could lead to higher operating expenses and margin pressure for Alphabet. Truist analyst Youssef Squali expects operating margins of around 33% in the third quarter,

CNBC's MacKenzie Sigalos joins 'Closing Bell Overtime' to report on Alphabet’s Q3 results, where a $1.5 billion beat in core search revenue eased fears that generative AI would cannibalize its ad business.