Alphabet reports 63% cloud revenue surge to $20B in Q1
Business
Alphabet (Google's parent company) just reported a huge 63% surge in cloud revenue for the first quarter ended March 2026, hitting $20 billion and beating Wall Street's expectations.
This boost came mostly from companies ramping up spending on AI infrastructure.
Overall, Alphabet's total revenue grew by 22% to $109.9 billion, well above predictions.
Alphabet doubles down on AI partnerships
Alphabet is doubling down on AI with major partnerships: think Meta, Palo Alto Networks, and a fresh deal with Apple to power more devices with Google tech.
Its cloud backlog now tops $460 billion, and more companies are using Alphabet's Gemini AI models.
Investors noticed: after the news dropped, Alphabet's stock jumped 4%, showing strong faith in its future growth.