Google parent Alphabet Inc.’s shares dropped in premarket trading after slower growth in its cloud business contributed to lower-than-expected revenue in the fourth quarter.

Alphabet said on Tuesday it will spend $75 billion on its AI buildout this year, 29% more than Wall Street expected, and investors signaled disappointment at a missed cloud revenue target and began showing impatience over profitability.

Google parent Alphabet (GOOGL) reported fourth-quarter earnings that topped analysts' estimates, but its cloud revenue came in short, sending shares lower in extended trading Tuesday. The tech giant saw revenue grow 12% year-over-year to $96.