Google-parent Alphabet dropped 7.5% in premarket trading after posting a deceleration in cloud revenue growth, missing analysts’ expectations. The company also said it would spend $75 billion on its AI buildout this year, 29% higher than Wall Street expected. Advanced Micro Devices lost 8.2% after Chief Executive Lisa Su said the company’s data center sales – a proxy for its AI revenue – in the current quarter would be down about 7% from the just-ended quarter.