Google’s AI-fuelled gains in cloud bode well for Amazon, Microsoft

Google-parent Alphabet’s breakout cloud sales in the July-September quarter bode well for top cloud providers Microsoft and Amazon.com, and signal that market for AI-aided computing power is only growing.

The company’s stock rose 5.5% in premarket trading on Wednesday, a day after Alphabet posted a 35% surge in Google Cloud revenue, the fastest pace of growth in eight quarters. Analysts expected a 29% rise, according to LSEG.

The company’s mainstay ad sales business rose 10%.