Alphabet's AI-Driven Cloud Growth Eases Investor Concerns Over Spending

Alphabet reported strong quarterly earnings driven by AI-powered cloud growth, with Google Cloud revenue surging 82% to $24.8 billion. The results eased investor concerns over heavy AI spending, as CEO Sundar Pichai highlighted enterprise AI adoption and a $514 billion cloud contract backlog. Alphabet's overall profit rose to $112.1 billion on 24% revenue growth.