"Alphabet is increasing its capital expenditure budget by $10 billion to a total of $85 billion for the year, reflecting strong demand for Google services."
"Google Cloud's revenue grew to $13.6 billion with a 31 percent year-over-year increase, indicating strong market demand and positioning it for significant annual growth."
Alphabet has raised its capital expenditure budget for the year by $10 billion to a total of $85 billion, driven by strong demand for its services. In Q2, Alphabet's revenue reached $96.4 billion, growing 14 percent year over year, with Google Cloud revenue experiencing a 31 percent increase to $13.6 billion. Google Cloud's operating income significantly improved, reaching $2.8 billion from $1.2 billion in Q2 2024. CEO Sundar Pichai noted a doubling of deals valued over $250 million and a customer increase of nearly 28 percent quarter over quarter.
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