TechCrunch·3 min read·medium
Google justifies its massive AI spending with a booming cloud business
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Lucas Ropek
✦AI Summary
Google's parent company, Alphabet, reported strong financial results driven by a significant 82% growth in its cloud business. The company attributes this success to high enterprise demand for AI infrastructure and solutions, helping to justify its heavy capital spending on AI.
Alphabet investors have very publicly worried that the company’s massive AI spending isn’t worth the money. With the company’s latest earnings report, those investors should be able to relax a little.
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