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Key News Facts
Alphabet’s AI cloud computing services are projected to generate global revenue reaching $2 trillion by 2030, supported by significant growth in its Google Cloud segment, which recorded a 34% increase to $15.1 billion in the latest quarter. The company currently has 650 million monthly active users of its AI product, Gemini, with 70% of its Google Cloud customers utilizing AI services.
Waymo, Alphabet’s autonomous vehicle division, leads the self-driving market, which is forecasted to be worth $2.3 trillion by 2030. Waymo operates in five U.S. cities with plans for further expansion, leveraging 16 years of development and over 100 million miles of driving experience.
In advertising revenue, Alphabet reported a 12.6% increase to $74.1 billion in Q3, indicating that AI has positively impacted search and ad revenue rather than undermining it as previously feared.
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