Alphabet has the tech and distribution to win in an age of AI

The simple answer is often the best answer.

$Alphabet(GOOG)$ $Alphabet(GOOGL)$ has the tech and (more importantly) distribution to win in an age of AI.

Quibble about the details, but don’t lose sight of the big picture. Google is winning and will continue to win.

Just finished my Q3 earnings remarks highlighting extraordinary momentum across the company and our differentiated full stack approach to AI innovation - robust infrastructure, research + models, and products + platforms.

A few highlights:

1.Gemini API calls, token volume, consumer usage, business adoption - all growing dramatically. And all 7 of our products and platforms with 2B+ monthly users use Gemini models, including the newest 2B-user product, Google Maps.

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2.Recent AI advancements, including AI Overviews, Circle to Search, and new Lens features, are expanding what people can search for and how they search for it. This leads to people coming to Search more often, driving additional search queries.

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3.For the first time ever, YouTube’s combined ad and subscription revenue over the past 4 quarters surpassed $50B. And our Cloud business has great momentum, generating Q3 revenues of $11.4B, up 35% over last year

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4.We continue to invest in state-of-the-art infrastructure to support our AI efforts, including important work inside our data centers to drive efficiencies, while making significant hardware and model improvements.

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5.Last but not least: Waymo’s doing really well - 1M fully autonomous miles and 150K paid rides / week, plus partnerships with Uber + Hyundai, 6th-gen Waymo Driver, growing commercial opportunity. Here’s a photo after a recent concert in SF - Waymo after Waymo picking people up!

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