Google Cloud revenue for the latest quarter rose 82% year over year to $24.8 billion, adding $11.2 billion amid heavy AI infrastructure spending. Google Search grew more slowly, up 17% to $63.3 billion, but its $9.1 billion increase was smaller than Cloud's, so the author argues Cloud now matters more to Alphabet's revenue growth than Search. The author sees chatbots such as ChatGPT and Claude, along with Gemini (950 million monthly active users), as a real risk to search volumes and ad revenue, but notes Gemini also underpins Alphabet's services, including AI summaries in Search. Total Alphabet revenue grew 23% year over year last quarter.
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Related tickers and likely impact
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/23/2026 | 320.25 |
| Change that session | -1.22% |
NVDA
▲ Likely positiveNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/23/2026 | 211.00 |
| Change that session | -0.57% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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