Comment on AI, cloud boost Alphabet profits by 34 percent

AI, cloud boost Alphabet profits by 34 percent

Alphabet’s profit jumped 34 percent in the third quarter as the parent company of search giant Google reported strong growth in its cloud business amid robust demand for computing and data services used to train and run generative artificial intelligence models. The solid results released on Tuesday helped alleviate investors’ fears about the financial returns on the vast sums being spent on AI by Alphabet and other Big Tech peers as they seek to dominate the nascent sector.

 

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