In the second quarter, Alphabet (GOOG) reported diluted EPS of $9.11 versus $2.88 expected, with revenue of $119.8B (+24% YOY) against a $116.9B estimate; Google Cloud revenue rose 82% YOY, and EPS included an approximately $99B unrealized equity gain. GOOG disclosed about $811B in committed capital for tech infrastructure, inventory, energy, and content, with total future commitments of about $902B including $91B in leases, mostly due by 2030. Waymo recalled about 3,800 botaxis in May for flood-driving software, then about 3,900 more after entries into closed freeway construction zones; NHTSA flagged a safety pattern and urged fixes. A Google DeepMind executive warned that AI infrastructure spending could outpace revenue growth ahead of the next major AI advance. Alphabet will meet White House officials on voluntary safety testing of advanced AI models, with the administration planning to exclude open-weight AI models from proposed tests. India may allow merchant fees on digital payments, potentially changing Google Pay’s merchant costs and affecting GOOG’s competitive position in UPI payments. A SpaceX filing says Alphabet Class C will natively support Starlink Gen2 Direct-to-Device in late 2027, ahead of broader launch and global coverage by 2028.