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Alphabet Stock Rises on Strong Demand for AI Infrastructure

Guavy AI Editorial Team
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GOOGL
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Alphabet's stock price surged $8.56 to $349.48 on Wednesday, driven by steady gains in demand for its AI infrastructure and Google Cloud services.

The company's cloud backlog reached a record $514 billion in Q2 FY2026, with large customers committing to future capacity despite heavy spending on data centers and hardware.

Alphabet reported Q2 2026 revenue of $119.8 billion, up 24% from the previous year, with Google Cloud revenue rising 82% to $24.8 billion.

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