Reported 28 days ago
Alphabet Inc., the parent company of Google, is reaping the benefits of its significant investment in artificial intelligence, reporting better-than-expected sales in its cloud computing division and increased usage of its search engine. With a 16% rise in revenue to $74.6 billion, driven by robust cloud sales up 35% year-over-year, Alphabet's efforts to catch up in the AI race have alleviated investor concerns. The company continues to focus on expanding its cloud services, leveraging its AI capabilities to attract new customers, despite facing ongoing antitrust scrutiny.
Source: YAHOO