A post by @unusual_whales on X.

Alphabet ($GOOGL) has posted negative quarterly free cash flow for the first time in the 20 years covered by a WSJ chart cited by @unusual_whales, with the figure falling to roughly -$6 billion and then about -$9 billion over the last two quarters. That marks a sharp reversal from as recently as early 2026, when the company was still generating positive free cash flow. The swing matters because it signals that Alphabet's capital spending is now outpacing the cash its operations produce, a notable shift for one of the largest technology companies. Investors will be watching upcoming quarterly reports for whether the deficit deepens or reverses, and for disclosure on what is driving the cash burn.