$Alphabet(GOOG)$ $Alphabet(GOOGL)$ Google has been playing catch up for being too far behind the curve in a lot of areas where its competitors have (or at least appear to) been more commercially focussed. GOOGL was guilty of some self indulgence when it was the only tech game in town, burning cash flow on numerous non profitable, ad hoc projects in an attempt to find ways of diversifying away from just being an internet search engine algorithm.

Having said that, its impending demise in that capacity has been greatly exaggerated. The tech game may yet bifurcate further between applications (inc.data collection) and infrastructure. On the one hand Musk (Starlink), $Amazon.com(AMZN)$ (Kuiper) and the semis ( $NVIDIA Corp(NVDA)$ $Taiwan Semiconductor Manufacturing(TSM)$ $Advanced Micro Devices(AMD)$ etc) are all investing heavily in AI/communications infrastructure; while $Microsoft(MSFT)$ $Palantir Technologies Inc.(PLTR)$ $Meta Platforms, Inc.(META)$ etc are concentrating on applications & software.

At the moment some of the mega tech companies are pursuing both, but the question is can that continue as more and more FCF is required to become the master of one trade and not the "jack of all trades".