Alphabet Boosted by AI, Cloud Demand
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Alphabet, Wall Street
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Alphabet Inc.'s $85B AI capex is backed by a $106B cloud backlog, showcasing tangible ROI. Click for my updated look at GOOGL stock post Q2 earnings.
Sundar Pichai's fortune could have increased by a billion dollars had he chosen to hold onto Google shares sold over the past decade.
Most leaders in the tech industry owe their wealth to founding equity stakes in their platforms, which Google’s Sundar Pichai does not have.
Google’s parent company, which is facing aggressive competition in its core search business from A.I. chatbots, also posted a double-digit profit increase.
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Alphabet was targeted with an EU antitrust complaint from six human and digital rights groups on Thursday which urged EU regulators to investigate whether the tech giant complies with legislation requiring it to make it easier for users to uninstall software apps.
Search giant Alphabet strongly beat estimates for quarterly revenue and profit on the back of new AI features and a steady digital advertising market.
We’ll continue investing in the people, talent and compute needed to make sure that we are set up for the opportunity ahead,” said CEO Sundar Pichai.
Alphabet's Q2 results showed strong revenue growth across segments, with Search maintaining double-digit growth despite concerns. Learn more on GOOGL stock here.