Burned by astronomical cloud bills, enterprises need a strategic road map that balances flexibility and control to unlock the full potential of AI investments.

(Reuters) -Alphabet missed Wall Street estimates for quarterly revenue on Tuesday, in a sign the Google parent was taking a hit from increased competition in the digital advertising market and a slowdown in its cloud computing business.

Alphabet said Tuesday it will spend $75 billion on its AI buildout this year, 29% more than Wall Street expected, while posting cloud revenue that missed analysts’ target. The tech giant’s shares were down more than 7% in extended trading.