Google Cloud grows fast thanks to AI, which now writes a quarter of all G-code
Alphabet CEO Sundar Pichai has warned that the Department of Justice's proposed remedies for Google's monopolistic behaviour could impact US leadership of the global tech market – after announcing enormous growth in the megalithic firm's ad business. Q3 2024 revenue of $88.25 billion – a nice jump from the $76.7 billion from the same quarter last year. Net income was $26.3 billion, up from $19.7 billion last year.
The CEO also talked up the AI prowess of the Google Cloud, which posted $11.3 billion of revenue – a $2.9 billion year-over-year jump. Pichai said the business has"real momentum" and its AI offerings"are helping us attract new customers, win larger deals, and drive 30 percent deeper product adoption with existing customers."
One workload from which Google itself is benefiting is code generation: Pichai said a quarter of the Chocolate Factory's new code is now written by machines and then reviewed by humans."This Helps our engineers do more and move faster," the CEO enthused. Pichai took the time to note a couple of milestones. The first was YouTube's combined ads and subscription revenue topping $50 billion over a four-quarter period – meaning the vid-streaming site accounts for almost a sixth of Alphabet revenue.
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