Bitcoin Tops $65,000 as Alphabet's Higher AI Spending Lifts Chip Stocks

Bitcoin climbed above $65,000 while chip stocks rose after Alphabet reported better-than-expected revenue but raised its AI spending forecast, sending its own shares lower after hours. Investors in the semiconductor sector interpreted the higher AI capex as a bullish signal. The link between big-tech AI investment and chip demand continues to support the broader crypto and semiconductor complex.