Alphabet filing shows more than $1 trillion in commitments
Alphabet has officially poured more than $1 trillion into purchase commitments, future leases and other obligations, according to a new financial filing.
That's not just about building cool tech: Alphabet's also taking on bigger financial commitments, which jumped by $23 billion last quarter to about $98.5 billion.
Google Cloud backlog reaches $560.8 billion
Google Cloud's backlog of contracts rose to $560.8 billion: think massive data centers and tons of power equipment, with more than a third of the quarterly growth coming from a joint venture.
A big chunk comes from Crux AI, a joint project with Blackstone that alone added $16.8 billion in contracts.
Alphabet is also investing billions of dollars in SpaceX stock and may have to buy back as much as $6.6 billion of AI chip systems it sold.
But turning all these AI advances into profit isn't simple; as Chief Business Officer Philipp Schindler admits, it's still figuring out how to make money from new AI-powered searches while expanding its ad business worldwide.