Alphabet, Wall Street
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Alphabet Boosted by AI, Cloud Demand
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Alphabet results take S&P 500, NASDAQ to record highs
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Alphabet on Wednesday cited massive demand for its cloud computing services as it hiked its capital spending plans for the year to about $85 billion and predicted a further increase next year. The sea
Most leaders in the tech industry owe their wealth to founding equity stakes in their platforms, which Google’s Sundar Pichai does not have.
Sundar Pichai's fortune could have increased by a billion dollars had he chosen to hold onto Google shares sold over the past decade.
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Search giant Alphabet strongly beat estimates for quarterly revenue and profit on the back of new AI features and a steady digital advertising market.
Alphabet sees increase in net profit, says recently launched AI Mode on Google 'going well' in India
The company’s revenue grew 14 per cent year-over-year to $96.4 billion, largely fueled by strong Google Cloud sales. The cloud division proved to be a major driver of growth, with revenue increasing 32 per cent from the previous year to $13.
Google parent Alphabet reported second-quarter revenue and profit that beat analysts' expectations, driven by rising cloud and search revenue.
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.
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.
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.