Alphabet rises as AI bets begin to pay off

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Alphabet‘s shares advanced over 5% in premarket trading on Friday after the Google parent assured investors that its bold AI investments are fueling a revenue boom in its advertising empire and cushioning a slowdown in cloud growth. “Alphabet is delivering well on the AI front, proving many sceptics wrong,” said Gerrit Smit, manager of Stonehage Fleming Global Best Ideas Equity Fund.

Google’s ad business, which accounts for nearly 75% of the company’s total revenue, posted an 8.5% rise in first-quarter revenue to $66.89 billion, though slow compared…



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Alphabet rises as AI bets begin to pay off


Alphabet‘s shares advanced over 5% in premarket trading on Friday after the Google parent assured investors that its bold AI investments are fueling a revenue boom in its advertising empire and cushioning a slowdown in cloud growth. “Alphabet is delivering well on the AI front, proving many sceptics wrong,” said Gerrit Smit, manager of Stonehage Fleming Global Best Ideas Equity Fund.

Google’s ad business, which accounts for nearly 75% of the company’s total revenue, posted an 8.5% rise in first-quarter revenue to $66.89 billion, though slow compared…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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