Andy’s Weekly Market Update | July 30, 2026 Is the AI Trade Getting Too Crowded?

This week, Wall Street got another reminder that even the biggest technology companies aren’t immune to the cost of the artificial intelligence race.

Alphabet (Google’s parent company) reported another strong earnings quarter, but one statistic grabbed investors’ attention: the company posted its first-ever negative free cash flow quarter as billions of dollars were poured into AI infrastructure, data centers, and computing power.