Bitcoin Holds Above $65,000 as Alphabet's AI Spending Boost Lifts Chip Stocks

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Bitcoin continued trading above $65,000 amid positive sentiment in the chip sector. Alphabet reported stronger-than-expected revenue but also announced an increased forecast for AI-related spending. The higher spending outlook weighed on Alphabet's own stock in after-hours trading. However, for chipmakers, greater AI investment signals stronger future demand, providing a bullish outlook. Bitcoin, which tends to track movements in the chip sector, benefited from this positive read on chip stocks.

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