![]() ![]() The advertising market is bouncing back, and Google Search revenue accelerated On the flip side, there are two big reasons to buy the dip.ġ. But investors do perceive it as critical to Alphabet's future, especially as AI adoption grows, and that's why its stock was hit so hard last week. Nevertheless, Google Cloud only accounts for 10.9% of Alphabet's total revenue, so it isn't the chief driver of the company's financials. Since Google Cloud is only the third-largest cloud provider behind Azure and Amazon Web Services, it can't afford to cede market share. ![]() To make matters worse, one of its main competitors, Microsoft Azure, delivered growth of 29% in the same period. While all of that sounds fantastic (and it is), Google Cloud's revenue grew by just 22% year over year in Q3 to $8.4 billion, which was far slower than Wall Street analysts expected. The platform also offers developers a selection of over 100 ready-made AI models they can build upon, and Google said the number of customers accessing them surged sevenfold in the space of one quarter. Companies like Alphabet manage enormous data centers and rent capacity from them to millions of businesses around the world, which use them to store their valuable digital assets.Īlphabet's Google Cloud division has some of the most popular infrastructure for training artificial intelligence applications - infrastructure that was built using its own tensor core processor (TPU) chips, and Nvidia's graphics processor ( GPU) chips. The cloud has become the center of the universe for the technology sector. What investors didn't like about Alphabet's Q3 results But I think that decline creates a spectacular long-term opportunity for investors. 24, its stock price has fallen by 12% as investors digested a slowdown in growth in the company's cloud computing segment, which is home to many of its artificial intelligence (AI) initiatives. Since Alphabet released its results on Oct.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |