business / news / / The Mercury News
Alphabet Inc. reported quarterly revenue and profit that beat projections.
Alphabet's cloud unit reported $20 billion in sales, surpassing the $18.4 billion analysts expected.
KEY POINTS
- Cloud backlog nearly doubled from the prior quarter to over $460 billion, Alphabet reported.
- Capital expenditures are set to reach $185 billion this year, double last year's spending.
- Google will invest up to $40 billion in Anthropic, reflecting intensifying AI industry competition.
- Search queries reached an all-time high as AI integration drove greater Google Search usage.
COMPANIES
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