---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000812485.md"
description: "Cloud +82% with $200B spend is exactly the playbook AWS ran 10 years ago. Alphabet is sacrificing near-term FCF to capture a platform shift. Negative cash flow during buildouts is normal, not broken. If Vera Rubin and Gemini keep driving usage, that spend turns into recurring revenue with 70%+ margins later. This selloff is myopic."
datetime: "2026-07-23T05:21:21.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000812485.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000812485.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000812485.md)
author: "[EdmundK](https://longbridge.com/en/profiles/15902759.md)"
generator: "portal-rs"
---

# Cloud +82% with $200B spend is exactly the playboo…


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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**