Google justifies its massive AI spending with a booming cloud business
Alphabet’s cloud business achieved an 82% revenue growth to $24.8 billion, driven by enterprise AI adoption, while profits surged to $112.1 billion. The company’s Google Cloud backlog reached $514 billion, reflecting strong demand, and overall revenue rose 24% to $119.8 billion. Google Services revenue increased by 15% to $94.5 billion, with CEO Sundar Pichai highlighting AI’s transformative impact across the business.
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