Alphabet shows Q1 strength in Google Cloud, initiates dividend
Alphabet's Google Cloud business is now pushing a $40 billion annual revenue run rate as the company overall delivered strong first quarter results.
Alphabet's Google Cloud business is now pushing a $40 billion annual revenue run rate as the company overall delivered strong first quarter results.
Google Cloud outlined a series of services and enhancements across its platform in a bid to make it easier for enterprises to bring their data to generative AI models, build applications and deploy them at scale.
Google Cloud delivered fourth quarter operating income of $864 million on revenue of $9.2 billion, up from $7.3 billion a year ago. Wall Street was expecting Google Cloud revenue of $8.94 billion.
Smartphones are increasingly about foundational models, generative AI features and the ability to leverage AI locally. The latest example is Samsung's Galaxy S24 launch, which also served as a showcase for Google's Gemini Pro and Imagen 2 on Vertex AI.
Hyperscalers are getting chippy as they compete for generative AI workloads.
Google Cloud CEO Thomas Kurian said companies are starting to reimagine their businesses for artificial intelligence one process at a time.
While generative AI dominated the talking points among the big three cloud hyperscalers--Microsoft Azure, AWS and Google Cloud--there was a term that remained a close second: Optimization.
Ruth Porat, President, Chief Investment Officer and CFO, said the company was seeing "momentum in Cloud."
The themes from Google Cloud at Google Cloud Next in San Francisco are use cases beyond IT, making it easier for developers to create with generative AI and large language models (LLMs) and driving usage throughout its services.
Google Cloud is ramping up its generative AI partnerships and customers as its Generative AI support on Vertex AI is generally available.