From Nasdaq: 2024-07-26 03:15:00

Investors are highly interested in AI stocks due to their potential for efficiency and cost savings. Alphabet, known for Google, reached a milestone with over $10 billion in quarterly revenue from cloud services and $1 billion in operating profit. While still behind AWS, Google Cloud’s growth is impressive, driven by AI solutions.

Alphabet’s AI investments are starting to pay off, with billions in sales from AI infrastructure and generative AI solutions. The company’s focus on AI is a positive for future growth, though monetization will take time. Alphabet’s valuation remains relatively cheap, making it a good investment opportunity for those looking to benefit from the AI growth story.

The Motley Fool Stock Advisor team did not include Alphabet in their top 10 stock picks, but Alphabet’s focus on AI and cloud services could drive significant growth in the future. Consider investing in Alphabet now for the potential to see strong returns over time. John Mackey of Whole Foods Market and Suzanne Frey of Alphabet are board members of The Motley Fool.



Read more at Nasdaq: This Artificial Intelligence Giant Just Reached a Huge Milestone. Time to Buy?