"Exciting developments are happening in artificial intelligence (AI). Companies are jockeying for position, building out data centers, and looking to stake their claim as AI transforms life as we know it. As the race for AI supremacy intensifies, attention is being drawn to prominent names like OpenAI and Nvidia. But don't overlook Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), the parent company of Google, which is building on a strong foundation and making strides for the next wave of technological advancement."
"Revenue of $102 billion marked the tech giant's first quarter with revenue exceeding $100 billion. Meanwhile, earnings per share of $2.87 came in well above analysts' expectations of $2.27 per share. Google Search has been core to Alphabet's business since its early days, and is a major driver of revenue for Google through advertising and sponsored search results."
Alphabet reported third-quarter revenue of $102 billion, marking its first quarter above $100 billion, and delivered earnings per share of $2.87, beating expectations. Google integrated AI into Search, strengthening its core advertising business and reducing risk from large language models. Google Cloud showed robust growth with an increasing number of high-value deals exceeding $1 billion and a backlog surpassing $155 billion. Companies across the industry are expanding AI investments and building data centers as competition intensifies among firms such as OpenAI and Nvidia. Alphabet continues to leverage scale and AI investments to position for the next wave of technological advancement.
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