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Alphabet (GOOGL) says Google Cloud "accelerated again" with revenue up 63%, topping USD 20bln for the first time, and backlog "nearly double quarter on quarter" to more than USD 460bln

Alphabet's strong earnings from Google Cloud, with a 63% revenue increase surpassing $20 billion, signals robust growth momentum in a competitive landscape.

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Alphabet (GOOGL) says Google Cloud "accelerated again" with revenue up 63%, topping USD 20bln for the first time, and backlog "nearly double quarter on quarter" to more than USD 460bln

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  • CEO says enterprise AI solutions have become the primary growth driver for Cloud for the first time.
  • Reduced cost of AI responses by 30% due to progress. 
Context

The nearly doubled backlog highlights a strong demand for enterprise AI solutions, which are now driving growth, suggesting Alphabet is positioning effectively in the AI market—this could positively influence sentiment in tech equities and boost associated sectors.

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