--- title: "Premarket: Google and Tesla Slide Post-Earnings as Capex Concerns Mount; SMCI Surges Nearly 20%" type: "News" locale: "en" url: "https://longbridge.com/en/news/293590711.md" description: "Alphabet fell over 3% premarket despite a Q2 revenue beat, as sharply higher capex guidance spooked investors. Tesla dropped more than 5%. SMCI jumped nearly 20%, leading gains, while Nvidia rose over 2%." datetime: "2026-07-23T09:36:29.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293590711.md) - [en](https://longbridge.com/en/news/293590711.md) - [zh-HK](https://longbridge.com/zh-HK/news/293590711.md) --- # Premarket: Google and Tesla Slide Post-Earnings as Capex Concerns Mount; SMCI Surges Nearly 20% U.S. stock futures pointed to a mixed open on July 23, with the spotlight squarely on earnings from Google parent Alphabet and Tesla. Alphabet shares slid over 3% in premarket trading despite topping second-quarter revenue estimates, as the company sharply raised its full-year capital expenditure guidance to **$195–$205 billion**, prompting investors to reassess returns on AI spending. Tesla also headed lower, falling more than 5% premarket. Super Micro Computer (SMCI) surged nearly 20% to lead the tape, while Nvidia (NVDA) gained over 2%. Tech names traded in a divided fashion, with the tug-of-war between earnings beats and ballooning capex budgets emerging as the session's defining theme. Chip stocks held relatively firm, while EV makers and select AI software names weakened. **Alphabet Beats on Revenue but Capex Surge Rattles Investors; Google Drops Over 3% Premarket** As of writing, Alphabet (GOOGL) was down 3.63% premarket. The company posted second-quarter revenue of **$119.8 billion**, exceeding consensus, with cloud momentum standing out. However, Alphabet lifted its full-year capex forecast to $195–$205 billion from a prior range of $180–$190 billion, and free cash flow swung to a negative **\-$5.9 billion**. Notably, quarterly profit reached **$112.1 billion**, of which roughly $98 billion stemmed from investment gains tied to SpaceX and Anthropic, leaving core operating profit with a limited contribution. Noah Holdings' CIO Office noted that the market is increasingly repricing AI capex through the lens of free cash flow, distinguishing high-return spending as assets while treating pure cash burn as a liability. **Tesla Tumbles Over 5% Premarket as Execution Risk Takes Center Stage** As of writing, Tesla (TSLA) was down 5.49% premarket. On its second-quarter earnings call, the company disclosed an Optimus V4 production target of **10 million units per year**, while its AI5 chip is expected to enter production by mid-next year. Despite the ambitious long-term roadmap, markets remain cautious about whether near-term profit growth can keep pace with the aggressive spending trajectory. Echoing the Alphabet dynamic, the focus has shifted from the AI narrative to free-cash-flow returns. **Super Micro Surges Nearly 20%; Nvidia Extends Gains** As of writing, Super Micro Computer (SMCI) was up 19.84% premarket at $30.56 on heavy volume. Nvidia (NVDA) added 2.30% to $212.06. On the catalyst front, recent analyst commentary highlighted Nvidia's expansion from dominance in AI GPUs toward the **$200 billion** CPU market, with the new Vera Rubin platform expected to launch this autumn and a CPU sales target of $20 billion this year. Sustained demand for AI infrastructure continues to underpin related hardware suppliers. Elsewhere, UiPath (PATH) sank 11.13% premarket to $10.70; Palantir (PLTR) fell 6.10% to $124.57; and Intel (INTC) declined 2.68%. Chinese ADRs saw relatively muted moves. In the bond market, the 30-year Treasury yield touched 5.15%, with macro researcher Jim Bianco arguing that the Federal Reserve needs to hike rates at the July meeting to stabilize bond market confidence. ### Related Stocks - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [SMCI.US](https://longbridge.com/en/quote/SMCI.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [PATH.US](https://longbridge.com/en/quote/PATH.US.md) - [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) ## Related News & Research - [Intel Stock Just Got a Stunning Price Target Hike Ahead of Earnings. How to Play INTC From Here.](https://longbridge.com/en/news/293383311.md) - [The AI boom didn't stop Google from hiring nearly 12,000 people](https://longbridge.com/en/news/293654654.md) - [Intel plans layoffs within its data center group](https://longbridge.com/en/news/293364099.md) - [As Nvidia Discloses a 9.3% Stake in Nebius, Here’s How You Should Play NBIS Stock](https://longbridge.com/en/news/293504980.md) - [Google Is Developing a Chip for Its Own AI Models. What This Means for GOOGL Stock.](https://longbridge.com/en/news/293375387.md)