Alphabet's profit hits $28B, plans to spend more on AI
Alphabet (Google's parent company) just posted a $28.2 billion profit for Q2—a 19% boost from last year.
The big drivers? Google Cloud and all things AI, plus solid gains in YouTube ads.
Total revenue hit $96.4 billion, up 14% year-over-year.
Google Cloud revenue soars as AI mode crosses 100 million users
Google Cloud revenue soared 32% to $13.62 billion as more companies jumped on the AI bandwagon.
CEO Sundar Pichai shared that their new "AI Mode" has already crossed 100 million monthly users in the US and India—pretty wild growth.
Alphabet raises spending plans to $85 billion this year
With demand for cloud and AI booming, Alphabet is raising its spending plans to $85 billion this year (up from $75B).
More cash will go into data centers and servers to keep up with all those users—plus, their "AI Overviews" now reach over 2 billion people worldwide.
YouTube and other bets add to the overall growth
YouTube pulled in $9.8 billion from ads alone this quarter—India played a huge part here!
And Alphabet's other projects (like Waymo) added another $373 million, showing they're serious about growing beyond just search and video.