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Investors weighing Meta Platforms against Alphabet in 2026 are confronting two of the technology sector’s largest artificial intelligence bets, each pursuing a distinct strategy for turning massive infrastructure spending into long-term returns. While both companies have posted strong quarterly results this year, analysts remain divided on which stock offers the better risk-reward profile heading into the second half of 2026.

Note: This article is intended to provide factual context for investors and does not constitute financial advice. Individuals should consult a licensed financial advisor before making investment decisions.

Both companies reported first-quarter 2026 results on April 29, giving investors a fresh look at how each business is performing amid an escalating AI spending race. Meta reported first-quarter revenue of $56.31 billion, up 33 percent year over year, with advertising revenue reaching $55.02 billion on the strength of a 19 percent increase in ad impressions and a 12 percent rise in average price per ad. Chief Executive Mark Zuckerberg described the results as “a milestone quarter” tied to output from Meta Superintelligence Labs, the company’s dedicated AI research division. Reality Labs, the unit responsible for the company’s virtual and augmented reality initiatives, including its AI glasses line, posted a $4.03 billion operating loss on just $402 million in revenue, a gap that continues to weigh on the company’s overall profitability.

Alphabet, meanwhile, reported first-quarter revenue of $109.9 billion, up 22 percent year over year, with Google Cloud emerging as the standout segment. Cloud revenue surged 48 percent to $17.66 billion, with operating income more than doubling to $5.31 billion. Alphabet’s cloud backlog has been reported at roughly $155 billion to $460 billion depending on the reporting period cited, giving the company substantial forward revenue visibility. Alphabet’s Gemini AI assistant has also scaled rapidly, with monthly active users reported at 750 million and enterprise-focused Gemini usage growing sharply on a quarter-over-quarter basis.

Capital spending plans highlight the differing strategies. Meta has guided for 2026 capital expenditures of between $115 billion and $145 billion, primarily directed toward AI infrastructure, custom chips and data center capacity. Alphabet’s 2026 capital expenditure guidance is considerably higher, ranging from $175 billion to $190 billion depending on the reporting period, spread across Google Cloud, YouTube, Waymo and broader AI infrastructure. Alphabet’s free cash flow has come under pressure as a result, falling sharply in some reported periods even as revenue growth remained strong, while Meta’s operating margin has compressed from roughly 48 percent to around 41 percent amid its own spending surge.

Valuation has emerged as one of the central differences separating analyst opinions on the two stocks. Meta has generally traded at a forward price-to-earnings multiple in the range of 20 to 23 times, while Alphabet’s multiple has been reported anywhere from roughly 16 to 28 times depending on the specific valuation model and time period referenced. Financial research firm GuruFocus has given Meta a perfect GF Score of 100 out of 100, suggesting the stock may be undervalued by approximately 10 percent relative to its calculated fair value, while assigning Alphabet a GF Score of 93, reflecting strong fundamentals but a comparatively more expensive entry point by some measures.

Analyst price targets also diverge notably between the two companies. Consensus estimates for Meta have clustered around $826 to $864 over a 12-month horizon, with some high-end estimates reaching as much as $1,015, implying upside of more than 30 percent from various recent trading levels. Alphabet’s consensus price targets have generally ranged from roughly $373 to $413, with some estimates as low as $352 and others as high as $515, reflecting more modest single-digit to low-double-digit implied upside in most scenarios. Alphabet has carried a Moderate Buy to Strong Buy rating across a wide range of covering analysts, with the vast majority issuing buy ratings and few, if any, sell recommendations. Meta has similarly drawn a Strong Buy consensus from a large group of analysts.

Stock performance between the two names has varied considerably depending on the period examined. In the weeks following their respective April earnings reports, Alphabet shares outperformed, gaining approximately 10.8 percent, while Meta’s stock was largely flat to slightly lower over the same stretch, reflecting investor enthusiasm for Google Cloud’s acceleration weighed against continued concerns about Meta’s capital spending trajectory and ongoing Reality Labs losses. Viewed over a full-year horizon, however, some reports have shown Meta significantly outperforming Alphabet, while other periods have shown the reverse, underscoring how sensitive the comparison is to the specific timeframe being measured.

Beyond its core advertising and cloud businesses, Alphabet has continued to diversify its revenue base. YouTube’s annual revenue has surpassed $60 billion when combining advertising and subscription revenue, while total paid subscriptions across Google One and YouTube Premium have topped 325 million. Alphabet’s autonomous vehicle unit, Waymo, has also expanded rapidly, reportedly surpassing 500,000 autonomous rides per week and receiving a $16 billion investment round earlier in 2026. Meta, by contrast, has continued to concentrate its strategy around advertising and consumer AI hardware, disclosing plans this year to explore monetizing its computing infrastructure through a potential cloud offering, a move that, if it materializes, could shift how investors evaluate the company’s heavy capital spending going forward.

Both companies continue to face regulatory scrutiny, including ongoing antitrust considerations tied to Alphabet’s search and cloud businesses, as well as European regulatory pressure on personalized advertising and pending U.S. litigation involving youth safety that is scheduled to proceed through parts of 2026 and could affect Meta’s platforms.

Taken together, the comparison between Meta and Alphabet in 2026 largely comes down to differing investment theses rather than a clear consensus favorite. Meta offers investors a more concentrated bet on advertising efficiency gains driven by AI, paired with a comparatively higher potential upside reflected in analyst price targets, but with continued uncertainty tied to Reality Labs losses and elevated capital spending. Alphabet offers a more diversified revenue base across search, cloud, YouTube and emerging businesses such as Waymo, along with a cloud segment that has demonstrated some of the fastest growth in the sector, though at a higher absolute level of planned capital expenditure and a valuation picture analysts continue to debate. As with any investment decision, individuals are encouraged to weigh their own risk tolerance, time horizon and portfolio diversification needs, and to consult a financial advisor before making decisions based on any single comparison of these two companies.

According to the filing with the exchange, the company is on track to deliver revenue exceeding Rs 150 crore in the first quarter of FY27, marking one of the strongest quarterly performances in its history.

Cupid said that, driven by this exceptional start to the financial year and improved visibility across international & domestic markets, the management has revised its FY27 revenue outlook upward by a minimum of 10%, which means that the company expects FY27 revenue of more than Rs 660 crore, up from its earlier guidance of Rs 600 crore.

Also Read | Diamond Power Infrastructure shares jump 10% after Rs 435 crore order for Hyderabad data centre projects

The revised outlook reflects growing confidence in the company’s diversified business model, expanding global opportunity pipeline and increasing operating scale across multiple business verticals.

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According to the company, growth is expected to be supported by expanding opportunities in international B2B healthcare markets, driven by demand from institutional buyers, private sector customers and government procurement programmes.
This outlook is further supported by the commencement of its long-term supply agreement with the Partnership for Supply Chain Management (PFSCM), Netherlands, which the company said strengthens its position in global healthcare procurement.The company also highlighted growing opportunities in its lubricant portfolio, driven by increasing acceptance across institutional and consumer channels. It said its consumer business offers significant long-term potential as it continues to expand its personal care and wellness brand across modern trade, organised retail and pharmacy networks across Bharat.

Cupid said it sees strong order visibility across private markets, institutional business and international tenders spanning multiple geographies. It expects sustained growth in its male and female condom businesses, driven by expanded manufacturing capacity, new customer additions and a broader market reach built over the past 12 months.

The company also said it is making steady progress in its In Vitro Diagnostics (IVD) business. While near-term growth expectations remain conservative, it expects the segment to become a meaningful contributor over the coming years, supported by regulatory approvals, new product launches and continued commercialisation efforts.

“Our strong start to FY27 reflects the transformation Cupid has undergone over the past few years. We have built a diversified business with multiple growth engines that are now beginning to scale together,” said Aditya Kumar Halwasiya, Chairman and Managing Director, Cupid.

Also Read | Vedanta and TCS among 5 stocks with highest dividend yield. Check details

Halwasiya further said, “We are seeing strong momentum across our international B2B business, supported by expanding opportunities in private markets, institutional procurement, and government tenders across the world. Our strategic relationship with PFSCM has commenced on a very encouraging note and further strengthens our long-term position in global healthcare procurement.”

He added that, backed by a strong order book, improving visibility across international markets and a robust pipeline of opportunities, the company has revised its medium-term revenue outlook upward. “At the same time, we believe our projections remain conservative, leaving room for additional upside as execution continues and new opportunities materialise,” he said.

In the last two weeks, the shares of Cupid were up 16.14% and by over 52% in the last month.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The race for the 2026 World Cup Golden Boot has tightened into an unprecedented three-way tie, with France’s Kylian Mbappe, Argentina’s Lionel Messi and Norway’s Erling Haaland all sitting atop the tournament’s scoring charts with seven goals apiece as the Round of 16 reaches its midpoint. It marks the first time in World Cup history that three players have reached seven or more goals in the same tournament.

Messi was the first of the trio to reach the mark, scoring in Argentina’s dramatic 3-2 extra-time win over tournament debutant Cape Verde in the Round of 32 on July 3. The goal also extended his standing as the tournament’s all-time leading scorer, pushing his career World Cup tally to 20 goals, a record he has been steadily building throughout the competition. Messi’s tournament run has included a hat-trick in Argentina’s opening group-stage win over Algeria, a brace against Austria and a free-kick scored off the bench against Jordan, before his decisive goal against Cape Verde put him at the top of the leaderboard.

Mbappe matched Messi’s tally the following day, scoring the only goal in France’s 1-0 win over Paraguay in the Round of 16 to send the two-time reigning runner-up through to the quarterfinals. The goal, converted from the penalty spot, also gave Mbappe the tiebreaker advantage over his rivals, since he has recorded two assists so far in the tournament compared to Messi and Haaland, a distinction that would currently place him first in the official Golden Boot standings if the tournament ended today.

Haaland completed the three-way tie on July 5, scoring twice in the final 11 minutes of Norway’s stunning 2-1 upset over five-time champion Brazil in East Rutherford, New Jersey. The result sent Brazil home in its earliest World Cup exit since 1990 and pushed Norway into its first-ever World Cup quarterfinal. Haaland’s tournament has been defined by explosive, high-impact performances, beginning with a two-goal outing in Norway’s 4-1 win over Iraq in his first-ever World Cup appearance and continuing through the knockout rounds.

According to FIFA’s official tiebreaker rules for the adidas Golden Boot award, ties are broken first by total assists, then by fewest minutes played among the tied scorers. Under that criteria, Mbappe currently holds the lead by virtue of his two assists this tournament, ahead of Messi and Haaland, who have not recorded any assists so far. The tiebreaker situation could shift considerably as the tournament progresses through the quarterfinals, semifinals and final, with all three contenders’ teams still alive in the competition.

Beyond the three co-leaders, a group of players sits several goals back but remains within striking distance heading into the tournament’s final rounds. England captain Harry Kane has scored five goals so far, highlighted by a brace in the team’s Round of 32 comeback win over DR Congo that also made him England’s all-time leading World Cup scorer, surpassing former England striker Gary Lineker. Kane has previously won the Golden Boot once before, at the 2018 World Cup in Russia, and would join a short list of repeat winners if he were to capture the award again this year. No player in World Cup history has ever won the Golden Boot more than once.

A cluster of players including Brazil’s Vinicius Junior, Spain’s Mikel Oyarzabal, England’s Jude Bellingham and France’s Ousmane Dembele are tied with four goals each, keeping them within reach of the leaders depending on how deep their respective teams advance. Dembele in particular surged up the standings with a first-half hat-trick during France’s group stage, while Oyarzabal has continued to contribute to Spain’s push through the knockout rounds.

Other notable performers earlier in the tournament included Germany’s Denis Undav, who scored efficiently off the bench before his team’s exit, Senegal’s Ismaila Sarr, who scored in three consecutive matches before his team was eliminated in the Round of 32, and Morocco’s Ismael Saibari, who scored in three straight group-stage matches to help lead his team’s run to the knockout rounds. Portugal captain Cristiano Ronaldo has also factored into the early scoring conversation, netting three goals through the tournament’s early rounds, though he will need to add to that total quickly if Portugal is to advance deep into the competition.

Historically, the Golden Boot has been awarded to a range of players across different scoring thresholds depending on the tournament. The all-time single-tournament scoring record belongs to France’s Just Fontaine, who scored an extraordinary 13 goals at the 1958 World Cup in Sweden, a mark that has stood for nearly seven decades. Hungary’s Sandor Kocsis scored 11 goals at the 1954 tournament in Switzerland, while West Germany’s Gerd Muller notched 10 goals at the 1970 World Cup in Mexico. With three players already at seven goals and roughly two weeks of competition remaining, questions have begun to surface about whether this year’s eventual Golden Boot winner could approach some of those historical benchmarks, particularly if Argentina, France or Norway make deep runs toward the final.

With the tournament’s remaining schedule featuring a quarterfinal matchup between Messi’s Argentina and Mohamed Salah’s Egypt, along with Mbappe’s France facing Morocco and Haaland’s Norway set to meet England, all three Golden Boot leaders will have additional opportunities to extend their tallies in the coming days. The eventual outcome of the award will likely hinge not only on continued individual scoring form, but also on how far each of their national teams progresses through the remainder of the tournament, with the final scheduled for July 19.

This article was written by

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

The Nifty Bank index rose to 58,376, gaining nearly 1%. The index snapped a two-session losing streak today.

HDFC Bank Q1 business update

HDFC Bank shares were the top gainers on the index, jumping nearly 3% after India’s largest private lender reported gross advances at Rs 30.61 lakh crore at the end of the April-June quarter of FY27, marking a 15.4% year-on-year (YoY) rise from Rs 26.53 lakh crore reported in the corresponding quarter of the previous financial year.

Its period end deposits meanwhile rose 14.7% YoY to Rs 31.71 lakh crore at the end of the first quarter of FY27, as against Rs 27.64 lakh crore reported at the end of the corresponding quarter of FY26.

JM Financial noted that HDFC Bank reported healthy deposit mobilisation. “HDFC Bank reported robust loan growth, marginally ahead of estimates, while deposit growth was in line. Consequently, the CD ratio inched up to 95.8% (vs. 94.6% in Q4 FY26). We expect margins to contract slightly this quarter and, in our recent preview note, estimated a 2bp QoQ margin contraction,” said Motilal Oswal in its note.

Also read: HDFC Bank Q1 business update | Gross advances rise 15% to Rs 30.61 lakh crore

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AU Small Finance Bank and IndusInd Bank shares gained nearly 2% each. AU Small Finance Bank’s gross loan portfolio rose around 23% YoY to Rs 1.44 lakh crore, while total deposits gained nearly 24% to Rs 1.58 lakh crore. IndusInd Bank’s net advances however declined over 2% YoY to Rs 3.26 lakh crore, but deposits rose 4.5% YoY to Rs 4.15 lakh crore.
ICICI Bank, Axis Bank, Federal Bank, State Bank of India and Yes Bank shares gained up to 1%, as seen at 11 am.Also read: Yes Bank shares gain after Q1 advances rise 18% to Rs 2.85 lakh crore, deposits up 14%

Kotak Mahindra Bank Q1 business update

Bucking the trend, Kotak Mahindra Bank shares crashed 4%, significantly weighing on the Nifty Bank index. This came after the private lender announced that its net advances for the quarter which ended on June 30, 2026, rose more than 15% year-on-year (YoY) to Rs 5.12 lakh crore, from Rs 4.45 lakh crore reported in the same period last year. Deposits meanwhile grew nearly 12% YoY to Rs 5.73 lakh crore during Q1 FY27, from Rs 5.13 lakh crore in Q1 FY26. Sequentially however, the growth in deposits was marginal at 0.1% QoQ from Rs 5.72 lakh crore in Q4 FY26.

Motilal Oswal noted that Kotak Mahindra Bank’s Q1 loan growth remained largely in line with its estimate. However, deposits surprised negatively amid a sharp decline in CASA. As a result, the bank’s CD ratio increased to 89.4% vs 86.6% in Q4 FY26.

JM Financial also noted that Kotak Mahindra Bank reported relatively weaker deposit mobilisation. “ICICI Bank, Axis Bank and Kotak Bank are expected to continue delivering strong earnings growth, while Ujjivan, City Union Bank and DCB Bank should remain among the better-performing mid-sized lenders supported by healthy business growth and improving operating metrics,” the domestic brokerage said.

Also read: Kotak Mahindra Bank shares fall over 4% after Q1 update; advances jump 15% to Rs 5.12 lakh crore

Canara Bank, Union Bank of India, Punjab National Bank and Bank of Baroda shares meanwhile traded in the red with marginal losses.

Key technical levels for Nifty Bank

Following the sharp rally witnessed at the start of June, the banking index has entered a phase of time-wise correction, evident from the formation of three consecutive small-bodied candles on the weekly chart, Rajesh Bhosale, Technical Analyst at Angel One, had said after the two-session losing streak.

“Despite this consolidation, the broader structure remains constructive as Bank Nifty continues to hold above the breakout zone of the April month swing high around 57,500, which also coincides with the 200DSMA. The overall trajectory continues to remain positive, and the current consolidation appears to be a healthy pause within the prevailing uptrend. Momentum indicator RSI, which had earlier entered the overbought zone, has now cooled off towards the 60 mark, creating room for the next leg of the upmove to unfold. Hence, traders should continue to maintain a buy-on-dips approach,” he said.

Also read: Why the world’s biggest banks keep selling their India retail arms

The Nifty Bank index is likely to see resistance at 58,500–58,800, and a sustained move above this zone is likely to reignite the primary uptrend, according to the analyst. On the downside, he sees the banking index finding support at 57,000–56,500 zone. “From a stock-specific perspective, frontline private banking stocks continue to exhibit relative strength, while PSU banks were under pressure. Traders are therefore advised to be selective and focus on stronger private banking names for potential outperformance,” Bhosale said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The 2026 FIFA World Cup has reached its knockout business end, with the field now trimmed to 16 teams and the tournament’s quarterfinal picture beginning to take shape as the Round of 16 continues across venues in the United States, Canada and Mexico.

The tournament began with a record 48 teams split into 12 groups, later narrowed to 32 nations advancing through the group stage before the single-elimination Round of 32 further reduced the field to 16. That round produced several surprises, most notably the elimination of Germany at the hands of Paraguay and an early exit for the Netherlands, results that reshaped expectations heading into the tournament’s second knockout round.

Two of the four quarterfinal matchups are now confirmed. France booked its place in the last eight with a 1-0 win over Paraguay in Philadelphia, a result built around a penalty conversion from Kylian Mbappe, who continues to lead the tournament’s Golden Boot conversation. France will face Morocco, which advanced with a commanding 3-0 win over co-host Canada in Houston. The victory made Morocco the first African nation to reach back-to-back World Cup quarterfinals, continuing the momentum the team built during a memorable run to the semifinals in 2022. Canada’s elimination also made it the first of the tournament’s three co-host nations to be knocked out of contention, a distinction determined largely by the structure of the bracket rather than any single result. Morocco and France are scheduled to meet in the quarterfinals on Thursday, July 9, at Boston Stadium.

The tournament’s other confirmed quarterfinal matchup pits Norway against England, a meeting set for Saturday, July 11. Norway advanced with a stunning 2-1 upset over five-time champion Brazil in East Rutherford, New Jersey, with forward Erling Haaland scoring both of Norway’s goals to send Brazil home in its earliest World Cup exit since 1990. England, meanwhile, survived a chaotic Round of 16 clash with co-host Mexico at Estadio Azteca, winning 3-2 in a match that included two red cards and two penalties before England held on to advance to the quarterfinals for a third consecutive tournament.

The remaining half of the bracket is still being finalized, with four Round of 16 matches left to determine the tournament’s final two quarterfinal pairings. Portugal is set to face Spain, while the United States takes on Belgium, both matches scheduled for Monday, July 6. Portugal advanced to this stage with a 2-1 win over Croatia, while Spain cruised past Austria 3-0 in its own Round of 32 fixture. The United States, the tournament’s remaining co-host still alive in the competition, advanced past Bosnia and Herzegovina 2-0 in extra time despite playing a portion of the match with a numerical disadvantage after forward Folarin Balogun was shown a red card, a decision that was later overturned by FIFA ahead of the Belgium match. Belgium reached this stage by overcoming Senegal 3-2 in a come-from-behind victory.

The winners of the Portugal-Spain and United States-Belgium matches will meet in the quarterfinals on Friday, July 10, at Los Angeles Stadium.

Two additional Round of 16 matches are scheduled for Tuesday, July 7. Argentina, the tournament’s defending champion, will face Egypt at Mercedes-Benz Stadium in Atlanta in a highly anticipated matchup between Lionel Messi and Mohamed Salah. Argentina reached this stage after needing extra time to eliminate tournament debutant Cape Verde, ultimately advancing 3-2 on the strength of a late own goal from the Cape Verdean defense. Egypt reached the Round of 16 for the first time in 92 years on the back of a penalty shootout win over Australia, a result that included a successful Panenka-style conversion from Salah.

Also on July 7, Switzerland will face Colombia, with both nations having advanced through their respective Round of 32 matchups. Switzerland eliminated Algeria to reach this stage, while Colombia edged past Ghana 1-0. The winners of the Argentina-Egypt and Switzerland-Colombia matches will meet in the quarterfinals on Saturday, July 11, at Kansas City Stadium.

With those results, the tournament’s quarterfinal schedule is nearly set. Morocco and France will open the round on July 9 in Boston, followed by the winners of Portugal-Spain and USA-Belgium meeting on July 10 in Los Angeles. On July 11, Norway will face England, while the winners of Argentina-Egypt and Switzerland-Colombia complete the round on the same day in Kansas City.

Beyond the sporting drama, this year’s tournament has continued to draw record global attention as the first World Cup jointly hosted by three nations and the first to feature the expanded 48-team format. The larger field has produced a total of 104 matches across 16 host cities spanning the United States, Canada and Mexico, a significant increase from the 64-match format used in previous 32-team tournaments. With Canada, Mexico and now potentially other co-hosts eliminated at various stages, the United States remains the last of the three hosts still alive in the competition heading into Monday’s match against Belgium.

Looking further ahead, the semifinal round is scheduled to follow the conclusion of the quarterfinals, with the tournament’s final set for July 19. As the bracket continues to take shape, storylines abound heading into the coming week, from Messi’s continued pursuit of a strong tournament with Argentina to Haaland’s push to add to his tournament-leading goal tally with Norway, alongside England’s bid to advance further than the team has in decades and the co-host United States’ attempt to extend its own historic run on home soil.

Fans looking to follow the remaining schedule can expect matches to continue nearly daily through the coming week as the field narrows from the current 16 teams down to the final four semifinalists, with official broadcast details for each remaining match available through FOX, FOX One, Telemundo and other regional broadcast partners covering the tournament across its host countries.

World Cup 2026 Bracket — Quarterfinals & Remaining Schedule

Confirmed Quarterfinals:

• Morocco vs. France — Thursday, July 9, Boston Stadium
• Morocco beat Canada 3-0 (first African team to reach back-to-back World Cup quarterfinals)
• France beat Paraguay 1-0 (Mbappé penalty)
• Norway vs. England — Saturday, July 11, Miami
• Norway stunned Brazil 2-1 (Haaland brace; Brazil’s earliest exit since 1990)
• England beat Mexico 3-2 at the Azteca (two red cards, two penalties)

Remaining Round of 16 (still to be played):

• Portugal vs. Spain — Monday, July 6
• Portugal beat Croatia 2-1; Spain beat Austria 3-0
• USA vs. Belgium — Monday, July 6
• USA beat Bosnia-Herzegovina 2-0 (AET); Belgium beat Senegal 3-2
• Argentina vs. Egypt — Tuesday, July 7, Atlanta (Messi vs. Salah)
• Argentina beat Cape Verde 3-2 (AET, own goal winner); Egypt beat Australia on penalties
• Switzerland vs. Colombia — Tuesday, July 7
• Switzerland beat Algeria; Colombia beat Ghana 1-0

Resulting Quarterfinals from those matches:

• Winner (Portugal/Spain) vs. Winner (USA/Belgium) — Friday, July 10, Los Angeles Stadium
• Winner (Argentina/Egypt) vs. Winner (Switzerland/Colombia) — Saturday, July 11, Kansas City Stadium

Key context:

• Field started at 48 teams → 32 after groups → 16 now in Round of 16
• Canada was the first co-host eliminated; USA is the only co-host still alive
• Semifinals follow the quarterfinals, with the final set for July 19
• Tournament format: first-ever 48-team World Cup, first jointly hosted by three countries (US, Canada, Mexico), 104 total matches