Alphabet's fourth-quarter earnings day is here, with numbers expected to be released after the markets close Tuesday. This will be followed by an earnings call at roughly 4:30 p.m. ET. The stock has been riding high over the past month as investors grew bullish over Google's AI investment.

Alphabet investors will be looking for updates on spending, search competition, cloud performance and regulatory news when the Google parent reports earnings Tuesday night. Alphabet is scheduled to report its fourth-quarter financials after the stock market closes on Tuesday.

Central to this is massive AI investing, with scrutiny on Alphabet's spending now after reports showing that its rival China's DeepSeek had developed a competitive AI model at a fraction of U.S. tech costs.

Alphabet will face investor scrutiny over its massive spending on AI when it reports earnings on Tuesday, as revenue growth at the Google parent likely slowed in the holiday quarter due to a slowdown in its advertising and cloud businesses.

Alphabet reports fourth-quarter earnings after Tuesday's closing bell. Investors will be focused on cloud momentum and AI traction, with shares of the Google and YouTube parent company holding fast near the record levels achieved last week.

Google, and US tech companies more generally, are still reeling from the breakout success of DeepSeek's V3 and R1 models. Purportedly developed for a fraction of the cost of Google's Gemini and OpenAI's ChatGPT, DeepSeek's efficiency raises questions about whether Silicon Valley is overinvesting in AI hardware.