Google Cloud pulls ahead as Big Tech’s AI bet swells to $700 billion

April 30, 2026 4:25 PM

Google Cloud pulls ahead as Big Tech’s AI bet swells to $700 billion

Alphabet's blowout cloud growth has reset expectations across major tech companies, leaving investors to recalibrate which firms are delivering the clearest returns. All four of the U.S. tech giants that reported results on Wednesday signaled that spending on artificial intelligence would not slow down, with combined outlays now set to surpass $700 billion this year, up from around $600 billion previously. Alphabet shares jumped more than 6% in premarket trading on Thursday, while Meta stock f...

Alphabet’s cloud unit beats quarterly revenue estimates on strong AI demand

April 30, 2026 10:21 AM

Alphabet’s cloud unit beats quarterly revenue estimates on strong AI demand

Alphabet topped Wall Street estimates for quarterly revenue growth at its cloud computing unit on Wednesday, driven by sustained enterprise spending on artificial-intelligence infrastructure. Revenue at Google Cloud grew 63% to $20 billion in the first quarter ended March, compared with analysts' average estimate of a 50.1% increase, according to data compiled by LSEG. The third-largest cloud services provider globally, behind Amazon Web Services and Microsoft's Azure, has continued to la...