During the company's third-quarter earnings call, CEO Sundar Pichai stated that over a quarter of all new code at Alphabet is now being generated by AI, marking a significant shift in the company's productivity metrics.
Pichai highlighted that their Q3 performance, which beat analyst predictions, is partly due to their cloud business, noting a remarkable 35% year-over-year revenue increase linked to AI's role in acquiring new enterprise customers.
He emphasized, "We are uniquely positioned to lead in the era of AI because of our differentiated full stack approach to AI innovation, and we are now seeing this operate at scale."
Alphabet's stock saw a positive reaction after its third-quarter earnings report, with shares rising nearly 6%, reflecting increased investor confidence following a year where shareholders enjoyed nearly 30% growth.
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