Alphabet has made an investor presentation available for June 2026. The presentation appears to be related to the company's Q2 2026 earnings, but some reports suggest it may also address the company's AI infrastructure spending plans, which could be causing concerns about dilution. The presentation's details and impact on the company's shares are not entirely clear, with some reports mentioning record first-quarter results and others noting a potential delay in a product called Gemini 3.5 Pro.