Google Cloud Gains Momentum with Major Partnerships
Alphabet's cloud division is gaining momentum as the company secures partnerships with major players like BNP Paribas and Salesforce. The French banking giant signed a five-year deal with Google Cloud, giving it access to the technology group's cloud infrastructure and Gemini models.
The partnership follows an announcement by Salesforce and Google Cloud on September 15 that they will expand their strategic alliance. Under this agreement, Salesforce workloads will migrate to Google Cloud via the Hyperforce platform, complete with shared data and joint tooling for AI agents.
Alphabet's move into cloud infrastructure and AI is paying off as Wall Street analysts raise their price targets on the company. Mark Mahaney of Evercore ISI lifted his target to $450 from $420, while Ivan Feinseth of Tigress Financial increased his target to $485 from $415.