Alphabet Stock Rises on AI Monetization and Cloud Growth
Alphabet (GOOGL) shares rose slightly as investors focused on the company's accelerating monetization of artificial intelligence, strong growth in Google Cloud, and expansion of its AI infrastructure. The stock gained 0.15% to $344.72 during extended trading hours. Positive developments included a partnership with Marvell Technology for custom AI chips that could reduce reliance on external suppliers and support Alphabet's internal computing needs. Additionally, Google Cloud reported an 82% year-over-year revenue increase in Q2, reaching $24.8 billion—surpassing competitors like Microsoft Azure and Amazon Web Services. Waymo also expanded access to its next-generation robotaxis at a lower cost across major U.S. cities, potentially improving long-term scalability. Institutional backing from Berkshire Hathaway and favorable technical signals further supported investor sentiment.
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Topics: AI infrastructure Google Cloud growth Marvell partnership Waymo expansion