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Alphabet's first-quarter profit soars as Google's big AI bets help push stock to new highs
- On Wednesday, Alphabet Inc reported an 81% profit increase to $62.6 billion for the January-March period, with revenue reaching $82.9 billion and surpassing analyst expectations.
- Google Cloud revenue surged 63% to $20 billion, as Alphabet CEO Sundar Pichai credited huge bets on AI technology for results, saying investments are "lighting up every part of the business."
- Subscriptions grew 19% year-over-year to 350 million paying subscribers across Google's services. Google's chief financial officer Anat Ashkenazi said Google One subscriptions "benefited from increased demand for AI plans."
- Alphabet's stock rose more than 6% in extended trading, while Meta shares slid more than 6% despite topping expectations, with expenses hitting $33.4 billion chasing "superintelligence."
- Alphabet previously earmarked up to $185 billion for capital expenditures this year, largely for AI data centers. Wall Street mostly supports AI spending, though some investors remain wary of whether these fortunes are financially shrewd.
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Alphabet CEO Sundar Pichai Says Google's Custom Chips, Gemini Models And Cloud Stack Give It Unique AI Ed
On Wednesday, Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) CEO Sundar Pichai said that Google's ownership of nearly every layer of the artificial intelligence ecosystem gives it a distinct advantage over rivals. Google's Full-Stack AI Strategy Powers Competitive Advantage During the first-quarter earnings call, Pichai spoke about the tech giant's control across the AI ecosystem — including custom chips, Gemini models, cloud infrastructure, develop…
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Coverage Details
Total News Sources54
Leaning Left15Leaning Right4Center12Last UpdatedBias Distribution48% Left
Bias Distribution
- 48% of the sources lean Left
48% Left
L 48%
C 39%
13%
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