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Google parent Alphabet ( GOOGL ) reported fourth-quarter earnings that topped analysts' estimates, but its cloud revenue came in short, sending shares lower in extended trading Tuesday.

The tech giant saw revenue grow 12% year-over-year to $96.47 billion, roughly in line with the analyst consensus compiled by Visible Alpha. Alphabet’s earnings of $26.54 billion, or $2.15 per share, rose from $20.69 billion, or $1.64 per share, a year earlier and beat projections.

However, Google Cloud's 30% revenue growth to $11.96 billion missed expectations, as well as Google's Search & Other segment revenue at $54.03 billion.

Alphabet CEO Sundar Pichai said the company expects to invest about $75 billion in capital expenditures in 2025 "to accelerate our progress."

The results come after the emergence of a sophisticated, cost-efficient AI model from Chinese startup DeepSeek raised concerns about the competitiveness of U.S. firms and their spending on the emerging tech.

Chinese regulators also launched an antitrust probe into Google this week in response to new U.S. tariffs going into effect. Most Google services, including Gmail and YouTube, already are banned in China.

Alphabet's Class A shares fell close to 7% in extended trading following the release. The stock closed at a record high of $206.38 Tuesday and has added about 43% over the past 12 months.

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