Google's parent company Alphabet reported a revenue of $96.5 billion for the last quarter, reflecting a 12% year-over-year growth, but marking its lowest growth rate since 2023 due to a slowdown in cloud computing. While Google's cloud revenue rose by 30.1% to $12 billion, it was a decrease from the previous quarter's 35%. CEO Sundar Pichai announced intensified investment in AI and data centers, indicating plans for $75 billion in capital spending for this year. The competitive landscape has shifted with the rise of Chinese AI startup DeepSeek, challenging Google's market position in AI.
A slowdown in cloud computing sales inhibited Google's revenue growth in the latest quarter, marking its lowest growth rate since 2023.
CEO Sundar Pichai announced that Google is investing significantly in data centers to support both AI development and the demands of its cloud customers.
Despite a year-over-year increase in cloud revenue, the growth rate decreased, reflecting broader challenges faced by big tech companies in cloud sales.
The emergence of Chinese startup DeepSeek has raised competition and scrutiny over AI investments by American tech giants, impacting their market strategies.
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