Bitcoin Hits New Milestone Above $65,000 Amid Alphabet's AI Spending Surge
Alphabet beat on revenue but raised its AI spending forecast again, sending its stock lower after hours. For the chip complex bitcoin tracks, more spending is the bullish read.
Bitcoin has surged above the $65,000 mark in live trading markets, marking a new milestone for the popular cryptocurrency. The rise comes as Alphabet, Google's parent company, announced a significant increase in its AI spending forecast, impacting its stock performance negatively.
This surge in Bitcoin's value has been closely linked to the ongoing trends in the chip industry. With Alphabet ramping up its AI investments, the chip trade is getting a boost, leading to a bullish sentiment in the market.
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