📈 Google just quietly proved the AI monetization thesis. Quite interesting earnings!
Cloud revenue up 63% to over $ 20b gen AI product revenue growing nearly 800% year-over-year. The backlog nearly doubled to $460 billion in a single quarter. The number of $100M–$1B deals doubled. Multiple billion-dollar-plus contracts signed.
But the real story is Search. The prevailing narrative was that AI would cannibalize Google's core business, people get answers from chatbots, stop Googling. The opposite is happening. Search ad revenue grew 19%, queries hit an all-time high. Google turned the bigges
Cloud revenue up 63% to over $ 20b gen AI product revenue growing nearly 800% year-over-year. The backlog nearly doubled to $460 billion in a single quarter. The number of $100M–$1B deals doubled. Multiple billion-dollar-plus contracts signed.
But the real story is Search. The prevailing narrative was that AI would cannibalize Google's core business, people get answers from chatbots, stop Googling. The opposite is happening. Search ad revenue grew 19%, queries hit an all-time high. Google turned the bigges
