Alphabet reports fourth-quarter earnings after Tuesday's closing bell. Investors will be focused on cloud momentum and AI traction, with shares of the Google and YouTube parent company holding fast near the record levels achieved last week.

Alphabet's fourth-quarter earnings day is here, with numbers expected to be released after the markets close Tuesday. This will be followed by an earnings call at roughly 4:30 p.m. ET. The stock has been riding high over the past month as investors grew bullish over Google's AI investment.

Alphabet said on Tuesday it will spend $75 billion on its AI buildout this year, 29% more than Wall Street expected, while posting cloud revenue that missed analysts' target. The tech giant's shares were down 9% in extended trading.

Google’s parent company is weighing on a mixed Wall Street Wednesday as the focus swings back toward how much profit businesses are making.

Tech stocks are leading Wall Street lower as attention swings back toward how much profits companies are making and away from President Donald Trump’s tariffs. The S&P 500 fell 0.2% in early trading Wednesday following mixed trading in Europe and Asia.

Wall Street drifted higher Wednesday as gains for most stocks outweighed drops for Alphabet and some other big-name companies following their latest profit reports.