Sundar Pichai Reported Alphabet's Cloud Revenue Grew 82% Last Quarter While the Gemini App Reached 950 Million Monthly Users. Is Google Cloud Becoming a Bigger Growth Driver Than Search?

When it comes to artificial intelligence (AI), no company has a greater opportunity or threat from the novel technology than Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) . The parent company of Google, Android, YouTube, and other platforms is trying to steer its ship toward the AI opportunity head-on, with ChatGPT, Claude, and other chatbots potentially threatening Google Search's monopoly. So far, this effort has not shown up in the financials, even as Google Search reached an all-time high in revenue last quarter. However, so did Google Cloud, with revenue growing 82% year over year, much faster than any other part of Alphabet's business.