--- title: Syz The Moment | google description: google | Syz The Moment --- [![Syz Private banking](https://blog.syzgroup.com/hs-fs/hubfs/Logo.png?width=140&name=Logo.png "Syz Private banking")](https://www.syzgroup.com/fr) ## **Thinking** out loud [Subscribe](https://25733253.hs-sites-eu1.com/newsletter-signup?hsLang=en) [![Contact Us](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2) - [OUR SERVICES](https://www.syzgroup.com/en/private-banking) - [ABOUT SYZ](https://www.syzgroup.com/en/about/welcome-to-syz) - [CAREERS](https://www.syzgroup.com/en/careers) - [PRESS](https://www.syzgroup.com/en/news) - [Blog Homepage](https://blog.syzgroup.com) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thoughts/tag/the-week-in-seven-charts) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Fixed Income Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Equity Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [CONTACT](https://www.syzgroup.com/en/contact-us/form) - [ENGLISH](https://www.syzgroup.com/) - [FRANÇAIS](https://www.syzgroup.com/fr) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [The week in seven charts](https://blog.syzgroup.com/slow-food-for-thoughts/tag/the-week-in-seven-charts) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Our Services](https://www.syzgroup.com/en/private-banking) - [About Syz](https://www.syzgroup.com/en/about/welcome-to-syz) - [Careers](https://www.syzgroup.com/en/careers) - [Press](https://www.syzgroup.com/en/news) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [English](https://www.syzgroup.com/) - [Français](https://www.syzgroup.com/fr) ## **Sign-up** for our newsletter This website uses cookies to enhance user navigation and to collect statistical data. You can change your settings below to refuse the use of cookies. For more information, please refer to the [Cookies policy](https://www.syzgroup.com/en/legal-notices). Mandatory cookies Functional cookies Statistics & marketing I confirm I am not a US citizen residing in the US I confirm I am not accessing this site from the US I confirm that I am not a resident of Canada (except for Ontario, Quebec, British Columbia or Alberta). Agree and confirm ### Restricted access We are sorry that for legal reasons we are not able to help US citizens or Canadian residents other than in Ontario, Quebec, or Alberta. Best wishes for the future… ### Restricted access We are sorry that for legal reasons we are not able to help US citizens or Canadian residents other than in Ontario, Quebec, or Alberta. Best wishes for the future… You chose the following profile. If you made a mistake, please change here USA Country Switzerland Canada: Other than Ontario, Quebec, Alberta Canada: Ontario, Quebec or Alberta USA Other country Language Language English French German Italian I confirm Legal information This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thoughts](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 13 Aug 2026 - - - #### Google is quietly turning into a giant investment portfolio. Over the past two decades, Alphabet $GOOGL has made billions of dollars in private investments — and some of those bets are now reaching the public markets. 🚀 SpaceX $SPCX now represents roughly 95% of Google’s publicly traded investment portfolio. And there could be another major addition soon. 🤖 Anthropic, one of Google’s biggest private AI bets, is expected to go public in the coming months. Alphabet owns a significant stake in the company, potentially unlocking another substantial source of value. Google is therefore becoming more than just Search, YouTube, Cloud and AI. Its portfolio of early-stage investments could increasingly become a meaningful part of the Alphabet story. Is Google slowly becoming a hedge fund with a technology business attached? Graphic credit: Leverage Shares, Global Markets Investor [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#google](https://blog.syzgroup.com/syz-the-moment/tag/google) ![Google is quietly turning into a giant investment portfolio.](https://blog.syzgroup.com/hubfs/1786550716585.jpg) ![Google is quietly turning into a giant investment portfolio.](https://blog.syzgroup.com/hubfs/1786550716585.jpg) 28 Jul 2026 - - - #### Google's investment portfolio: Source: Patient Investor [#google](https://blog.syzgroup.com/syz-the-moment/tag/google) ![Google's investment portfolio:](https://blog.syzgroup.com/hubfs/4-Jul-28-2026-02-59-00-6303-PM.jpg) ![Google's investment portfolio:](https://blog.syzgroup.com/hubfs/4-Jul-28-2026-02-59-00-6303-PM.jpg) 24 Jul 2026 - - - #### Alphabet $GOOGL closed below its 200-day moving average for the first time in over a year Source: Barchart [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#google](https://blog.syzgroup.com/syz-the-moment/tag/google) ![Alphabet $GOOGL closed below its 200-day moving average for the first time in over a year](https://blog.syzgroup.com/hubfs/1784866200822.jpg) ![Alphabet $GOOGL closed below its 200-day moving average for the first time in over a year](https://blog.syzgroup.com/hubfs/1784866200822.jpg) 23 Jul 2026 - - - #### Alphabet beat Q2 revenue expectations, but missed on underlying earnings. Revenue rose 24% to $119.8 billion, led by an 82% increase in Google Cloud revenue to $24.8 billion. Cloud operating margin reached 36%. Reported net income was boosted by roughly $99 billion in unrealised gains on investments including Anthropic and SpaceX. Excluding these gains, adjusted EPS was $2.85 versus $2.90 expected. The stock fell 3% after hours. Source: App Economy Insights @EconomyApp Bull Theory Yahoo Finance [#earnings|](https://blog.syzgroup.com/syz-the-moment/tag/earnings) [#google](https://blog.syzgroup.com/syz-the-moment/tag/google) ![Alphabet beat Q2 revenue expectations, but missed on underlying earnings.](https://blog.syzgroup.com/hubfs/1784760644241.jpg) ![Alphabet beat Q2 revenue expectations, but missed on underlying earnings.](https://blog.syzgroup.com/hubfs/1784760644241.jpg) 23 Jul 2026 - - - #### Google's capex is on track to nearly triple in two years Source: Hedgeye @Hedgeye Bloomberg [#AI|](https://blog.syzgroup.com/syz-the-moment/tag/ai) [#google](https://blog.syzgroup.com/syz-the-moment/tag/google) ![Google's capex is on track to nearly triple in two years](https://blog.syzgroup.com/hubfs/1784760320716.jpg) ![Google's capex is on track to nearly triple in two years](https://blog.syzgroup.com/hubfs/1784760320716.jpg) 23 Jul 2026 - - - #### Alphabet $GOOG just reported NEGATIVE free cash flow for the first time in history. And the story is not over; Alphabet projected full-year capital expenditures will be $195 billion to $205 billion in 2026, increasing its already sky-high spending estimate for the year as it works to secure an edge in the AI race. Source: Phil Rosen @philrosenn [#google](https://blog.syzgroup.com/syz-the-moment/tag/google) ![Alphabet $GOOG just reported NEGATIVE free cash flow for the first time in history.](https://blog.syzgroup.com/hubfs/1784780106050.jpg) ![Alphabet $GOOG just reported NEGATIVE free cash flow for the first time in history.](https://blog.syzgroup.com/hubfs/1784780106050.jpg) 23 Jul 2026 - - - #### Andy Bechtolsheim wrote Google a $100,000 check before it even had a bank account. That $100,000 check is worth $15 billion today. Andy Bechtolsheim is a billionaire German-American electrical engineer, investor, and tech entrepreneur. He co-founded Sun Microsystems in 1982 and Arista Networks in 2004. Source: Bull Theory [#Technology|](https://blog.syzgroup.com/syz-the-moment/tag/technology) [#google](https://blog.syzgroup.com/syz-the-moment/tag/google) ![Andy Bechtolsheim wrote Google a $100,000 check before it even had a bank account.](https://blog.syzgroup.com/hubfs/1784761205754.jpg) ![Andy Bechtolsheim wrote Google a $100,000 check before it even had a bank account.](https://blog.syzgroup.com/hubfs/1784761205754.jpg) 25 Jun 2026 - - - #### Tokens requested from Google, OpenAI and Anthropic relative to total fell to 33% in June 2026 from 72% a year earlier. Tokenomics matters, or at least it will soon enough. Chinese AI’s gains in the market are remarkable. Source: Bloomberg, Negligible Capital [#AI|](https://blog.syzgroup.com/syz-the-moment/tag/ai) [#google](https://blog.syzgroup.com/syz-the-moment/tag/google) ![Tokens requested from Google, OpenAI and Anthropic relative to total fell to 33% in June 2026 from 72% a year earlier.](https://blog.syzgroup.com/hubfs/2-Jun-25-2026-03-44-19-6442-PM.jpg) ![Tokens requested from Google, OpenAI and Anthropic relative to total fell to 33% in June 2026 from 72% a year earlier.](https://blog.syzgroup.com/hubfs/2-Jun-25-2026-03-44-19-6442-PM.jpg) [1](https://blog.syzgroup.com/syz-the-moment/tag/google/page/1) [2](https://blog.syzgroup.com/syz-the-moment/tag/google/page/2) [3](https://blog.syzgroup.com/syz-the-moment/tag/google/page/3) [4](https://blog.syzgroup.com/syz-the-moment/tag/google/page/4) [5](https://blog.syzgroup.com/syz-the-moment/tag/google/page/5) [❯](https://blog.syzgroup.com/syz-the-moment/tag/google/page/2) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/10?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. Follow us ## **Thinking** out loud - - - - ## **Investing** with intelligence Our latest research, commentary and market outlooks #### [Weekly Market Update](https://blog.syzgroup.com/fast-food-for-thoughts/tag/weekly-market-update?hsLang=en) #### [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus?hsLang=en) #### [Asset Allocation Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights?hsLang=en) #### [Semi-annual Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/semi-annual-outlook?hsLang=en) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [Terms & conditions](https://www.syzgroup.com/sites/default/files/document/2021-12/001-2_en-general_terms_and_conditions_w.pdf) - [Data protection notice](https://www.syzgroup.com/en/data-protection-notice) - [Cookies policy](https://www.syzgroup.com/en/legal-notices) - [Syzgroup.com](https://www.syzgroup.com/)