Want insight into the business prospects for a company? Pay attention to what its biggest customers are saying. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) provided its fiscal 2024 fourth-quarter update after the market closed on Tuesday.

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 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.