There are still many highlights of Google after the US stock market closed: 1. Revenue increased by 12% year-on-year, but profits and earnings per share increased by 46% year-on-year, and the growth rate of free cash flow can also keep up with the growth rate of profits. The effect of reducing costs and increasing efficiency is still very obvious, and it can be considered that AI has played a considerable role in it. 2. A $70 billion stock repurchase plan has been announced, continuing the previous repurchase efforts and further boosting market confidence. 3. Capital expenditures continue to expand, and Google's investment in data centers, chips, and other AI infrastructure continues to grow. Capital expenditures surged to $17.2 billion in the first quarter, higher than the $12 billion in the same period last year and slightly higher than the market estimate of $17.1 billion. The company expects its annual capital expenditure to reach 75 billion US dollars in 2025 for the construction of data centers and other projects, a significant increase from 53 billion US dollars in 2024. In the current market environment, Google's unexpected financial report can still boost market sentiment, especially since the growth rate of capital expenditure in the past 25 years has not slowed down. Against the backdrop of policy uncertainty and natural contraction of expenditure by enterprises, continuing to expand expenditure is also helpful for emotional recovery. Of course, the first quarter only affected the market with expectations and emotions, and did not substantially reflect the true impact of the implementation of tariffs.