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Alphabetannounced its first-ever dividend on Thursday and a $70 billion stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.

The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals on generative artificial intelligence. The dividend will be 20 cents per share.

Just three months ago, Alphabet’s Big Tech rival, Meta Platforms, announced its own first-ever dividend, a move that lifted the social media company’s stock market value by $196 billion the following day. Amazon remains the lone holdout among Big Tech firms not offering a dividend.

Alphabet beat expectations for the quarter in sales, profit and advertising – metrics that are all closely watched.

“Alphabet’s announced dividend payouts and buybacks on top of the solid earnings beat are not only a breath of fresh air for the tech market as a whole, but also a very intelligent strategy for the search engine giant going into a tough time of the year,” said Thomas Monteiro, senior analyst at Investing.com.

Alphabet’s after-hours share surge of nearly 16% following the report increased its stock market value by about $300 billion to over $2 trillion.

In a call to discuss results, CEO Sundar Pichai touted Google’s AI offerings as a boon to its core search results. “We are encouraged that we are seeing an increase in search usage among people who are using the AI overviews,” he said.

Revenue was $80.54 billion for the quarter ended March 31, compared with estimates of $78.59 billion, according to LSEG data.

The search firm’s beat on first-quarter revenue was powered by rising demand for its cloud services on the back of increasing adoption of artificial intelligence and steady advertising spending.

Google reported advertising sales rose 13% in the quarter to $61.7 billion. That compares with the average estimate of $60.2 billion, according to LSEG data.

Alphabet is coming off a fourth quarter in which ad sales missed the mark, sending shares tumbling, amid rising competition from Amazon, Facebook and new entrants like TikTok. The latter faces an uncertain future after President Biden signed a bill that would ban the popular app if it is not sold within the next nine to 12 months.

Meanwhile, Google Cloud revenue grew 28% in the first quarter, boosted by a boom in generative AI tools that rely on cloud services to deliver the technology to customers.

Alphabet’s capital expenditures were $12 billion, a 91% rise from a year prior, a figure Gabelli Funds portfolio manager Hanna Howard called “higher than anticipated.”

Still, CFO Ruth Porat said on the call with analysts that she expects such expenditures to be at that level or higher throughout the remainder of the year, as the company spends to build artificial-intelligence offerings.

Despite the surge in capital expenditures, Porat said operating margin in 2024 would be higher than last year, without elaborating.

Google’s cloud services are attractive for venture capital-backed startups developing generative AI technologies due to their pricing and ease of integration with other tools, investors and experts have previously said.

Google has touted its AI-powered chatbot, Gemini, as a panacea for automation, from coding to document creation. The software was widely criticized, however, after it was found to generate historically inaccurate images, including of former US leaders and World War Two-era German soldiers.

Google has said it is aware of the issues and is working to address them.

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Sources: Texas State expecting offer from Pac-12

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Sources: Texas State expecting offer from Pac-12

Texas State officials have informed the Sun Belt Conference that they are expecting an offer from the Pac-12 in the near future, sources told ESPN.

The talks between Texas State and the Pac-12 have intensified in the last 24 hours, per ESPN sources, although a formal offer from the Pac-12 to Texas State has yet to be delivered.

A formal offer is anticipated in the near future, per sources, as Texas State is in talks to join the league for the 2026-27 school year.

It’d be the next step in the courtship, which may not formally conclude until Monday because of the process required. To formally accept an offer upon receipt, Texas State would need to call a board of regents meeting, which requires 72 hours of notice to convene, per state of Texas open meeting laws.

Pac-12 officials have also alerted the Sun Belt of the talks with Texas State, per sources. Texas State has been the heavy favorite to join the league for months.

That anticipation has increased this week because Texas State’s exit fee to join the Pac-12 for 2026 doubles from $5 million to $10 million on July 1. For formal board approval and to avoid the buyout, Texas State’s invitation would have to come late this week.

Texas State would become the league’s eighth football member, which the Pac-12 needs as a minimum to operate as an FBS conference. (There’d be nine overall, including Gonzaga.)

The Pac-12’s football membership for 2026 consists of Oregon State, Washington State, Boise State, San Diego State, Colorado State, Utah State and Fresno State. Gonzaga doesn’t sponsor football but also will be in the league.

Texas State is a school of 40,000 students that gives the Pac-12 a presence in the football-rich state of Texas. It joined the WAC in 2012 under coach Dennis Franchione and entered the Sun Belt a year later.

Texas State held a verbal offer in the fall to join the Mountain West but ultimately turned that down.

The Bobcats are coming off back-to-back bowl wins and an eight-win season under coach GJ Kinne.

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Morehead St. naming stadium after NYG’s Simms

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Morehead St. naming stadium after NYG's Simms

Morehead State is renaming its stadium for alumnus Phil Simms, who quarterbacked the New York Giants to a win in Super Bowl XXI.

The official dedication will take place at the stadium in Morehead, Ky., during homecoming weekend on Oct. 18.

Simms played for the program from 1974-78. The Kentucky native passed for 5,545 yards and 32 touchdowns during his career and was named the Ohio Valley Conference Player of the Year in 1977.

“Phil Simms has remained loyal to MSU throughout the years,” athletic director Kelly Wells said. “He has given MSU his time, talent, and treasure to MSU since his days as a college athlete. He has visited Morehead during the summers to host summer camps for young athletes and encouraged them to consider MSU.

“He has mentored MSU coaches and players throughout the years. Most notable, he has hosted numerous fundraising events and personally contributed hundreds of thousands of dollars to support the football program. This recognition is most deserving and long overdue.”

The Giants drafted him with the seventh overall pick in 1979 and he remained with the team through his final NFL season in 1993. The two-time Pro Bowl selection ranks second in franchise history in passing yards (33,462) and touchdown passes (199).

He was named the MVP of New York’s 39-20 win against the Denver Broncos in Super Bowl XXI, completing 22 of 25 passes for 268 yards with three touchdowns and zero interceptions.

Simms earned a second ring with the Giants in Super Bowl XXV when his injury replacement, Jeff Hostetler, led the team to a 20-19 win against the Buffalo Bills.

Simms, who turns 70 in November, returned to campus in 2015 to receive his bachelor’s degree. The university also presented him with an honorary doctorate.

Following his playing career, Simms spent three decades in the broadcast booth.

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Oregon finally lands ’26 QB in three-star Beaver

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Oregon finally lands '26 QB in three-star Beaver

After a series of high-profile whiffs in the 2026 quarterback class, Oregon landed one of the cycle’s fastest-rising prospects on Wednesday with a commitment from three-star passer Bryson Beaver.

Beaver, a 6-foot-3 recruit from Murrieta, California, initially committed to Boise State on April 19. But amid fresh interest from a series of major Power 4 programs including Alabama, Ole Miss and Oregon, Beaver pulled his pledge from the Broncos and reopened his recruitment earlier this month on June 12. He took unofficial trips to Alabama and Ole Miss days later, and Beaver drew new offers from Auburn and LSU on Monday in the wake of a standout performance at the Elite 11 Finals — the nation’s premier high school passing camp — from June 17-19.

His commitment to the Ducks follows an official visit to Oregon this past weekend, closing a rapid, 13-day re-recruitment.

“The last few weeks have been a blessing-I’ve had some great conversations with amazing coaches from top programs, and I’m super thankful for the interest I’ve received,” Beaver wrote on social media.

Beaver joins Oregon as the 10th commit in the Ducks’ incoming recruiting class, and his pledge closes the program’s protracted pursuit of a 2026 quarterback in recent months.

Oregon appeared settled at the position in the cycle after four-star passer Jonas Williams (No. 155 overall) committed to the program last August. But Williams’ flip to USC six months later on Feb. 21 forced the Ducks to renew their efforts in the 2026 quarterback market this spring, setting the stage for several near-misses before Beaver’s commitment on Wednesday.

Oregon spent early spring engaged in a neck-and-neck battle with Georgia for No. 1 quarterback prospect Jared Curtis (No. 5 in the 2026 ESPN), who ultimately committed to the Bulldogs on May 5 following visits with both programs. On Tuesday, the Ducks finished second for a top quarterback once again, this time losing out on four-star BYU pledge Ryder Lyons (No. 49). Two-sport star Matt Ponatoski, who is expected to be selected in next month’s MLB draft, is another quarterback prospect the Ducks actively recruited in recent weeks.

Beaver, a strong-armed passer who threw for 3,214 yards and 33 touchdowns as a junior last fall, will arrive on campus next year alongside a pair of ESPN 300 pass catchers.

Five-star Kendre’ Harrison, ESPN’s No. 1 tight end in 2026, has been committed to Oregon since Nov. 2024. Wide receiver Messiah Hampton ( No. 193 overall) became the program’s most recent top-300 addition on offense earlier this month.

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