capital expenditures

Alphabet said that it spent $12 billion on capital expenditures in the first quarter, soaring 91 percent from a year earlier.

It plans to use net proceeds — which it estimated at $198 million assuming an IPO price of $88 — for general corporate purposes including working capital and capital expenditures.

“I'm going to have to explore more digital and delivery avenues. I'm going to obviously have to make, like any smaller-business owner, harder choices around big capital expenditures.”

But Amazon’s chief financial officer said in February that capital expenditures would increase this year to support AWS growth, including AI-related projects.

The GDP revision had been expected because of recent data showing robust capital expenditures.