By ChartR
Oct 31, 2024
Alphabet, the Google owner revealed that its Google Cloud business — think servers, computing, analytics, and other enterprise IT solutions — continues to reap the rewards from the AI gold rush, with revenues rising 35% year on year. But, despite all the AI hype, good old Google Search continues to be the profit center of the company.
The continued dominance of Google is enabling the company to take some very expensive swings on nascent technologies. Many of these are in their infancy, but some are starting to make a splash. Its self-driving car division, Waymo, is reportedly doing 150,000 paid trips per week, and its Gemini AI model has now been squeezed into pretty much all of its products.
The dependability of the Google Search cash firehose also means that some of the company’s other highly used products, like Gmail, Google Maps (which just hit 2 billion users), and Google Chrome, don’t need to be huge moneymakers in their own right (yet). Of course, that dominance is catching the eye of the regulators: just a few weeks ago, the Justice Department said it was considering taking action to break Google’s monopoly on Search.
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