Pre-market Stock News Roundup: Market Focus on Google Earnings, OpenAI to Increase Cloud Service Spending Outlook to $750 Billion

BlockBeats News, July 22, a summary of key pre-market news in the US stock market:

1. Google's parent company Alphabet and Tesla will release their Q2 2026 earnings reports after the US market closes today. The market is focused on key metrics such as AI investment returns, cloud business growth, and profitability.

2. The market expects Google's Q2 revenue to further increase to $116.8 billion, a YoY growth of 21.1%. Bank of America believes that Google Cloud and the search business remain the key performance drivers this quarter, with cloud services expected to sustain strong growth. An article by Finance Professor and CTA Damir Tokic has sparked a "seismic" reaction in the US stock investment community, suggesting that Alphabet may be the first among major tech companies to lower its AI capital expenditure outlook. The pressure primarily stems from weakening free cash flow, rising financing costs, and a lack of sufficient proof of AI investment returns.

3. The market expects Tesla to report Q2 revenue of approximately $25.31 billion and earnings per share of $0.50. Despite the company's earlier announcement of Q2 deliveries reaching 480,100 vehicles, exceeding market expectations, the market is more concerned about whether the delivery growth can translate into revenue and profit growth, and whether the automotive gross margin will continue to be under pressure.

4. AMD has released its preliminary financial results for Q4, with both GAAP and non-GAAP gross margin expected to be between 15% and 17%, nearly double the previously guided range of 8.2% to 8.4%.

5. NVIDIA CEO Jensen Huang publicly opposes the US ban on Chinese open-source AI. He stated that Chinese models like Kimi perform exceptionally well, and US companies "should certainly use" them. Restricting these models could instead weaken US security.

6. Independent research firm TS Lombard's report has shown that the valuation of South Korean memory chip stocks has almost reached a reasonable level, but the market's expectations for the future profitability of memory chip companies may still be overly optimistic.

7. US stock index futures as a whole are declining, with Nasdaq 100 index futures falling over 1%, S&P 500 index futures down 0.48%, and Dow Jones index futures down 0.28%.

8. SK Hynix has not sought to acquire Intel's land and manufacturing plant in Ohio and has not made any decisions regarding this.

9. AMD has signed a significant chip and investment agreement with ANTHROPIC, with AMD investing $5 billion in ANTHROPIC.

10. OpenAI has increased its projected cloud service spending from $600 billion to $750 billion. It also plans to invest over $30 billion in building a new data center.