Alphabet reports Google Cloud revenue jumps 82% to $24.8B
Google's parent company, Alphabet, just calmed investor nerves about its big AI spending with some eye-popping numbers.
In the second quarter of 2026, Google Cloud revenue shot up 82% year-over-year to $24.8 billion, easily beating Wall Street's expectations.
This follows a strong last quarter, too, showing that all those AI investments are really starting to pay off.
Alphabet cloud contract backlog reaches $514B
What's fueling this growth? More companies are jumping on Google's AI tools and cloud services, pushing their cloud contract backlog to a massive $514 billion.
Alphabet's overall profit also jumped to $112.1 billion (up from $28.1 billion last year), and CEO Sundar Pichai credits the success to the rise of Gemini, its AI chatbot now used by 950 million people each month, and long-term confidence in its cloud business, noting healthy dynamics and confidence in its investments.