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Microsoft and Alphabet Earnings Split the AI Trade: Cloud Growth Meets a Cash Test

Microsoft and Alphabet earnings split the AI trade on 29 October 2026. Microsoft beat forecasts as Azure grew 48%, while Alphabet fell after negative free cash flow despite Google Cloud doubling. The contrast put cloud growth and cash generation on opposite sides of the same investment debate. Quick Reference CompanyHeadline resultCloud signalInvestor focusMicrosoftBeat forecastsAzure grew 48%Cloud growthAlphabetShares fellGoogle Cloud doublingNegative…