Alphabet tops $100B quarterly revenue for first time, cloud grows 34%

Alphabet exceeded expectations with $102.35 billion in revenue, marking its first $100 billion quarterly revenue. The company's cloud unit, including AI services, showed significant growth with a $155 billion customer backlog. Alphabet plans to increase capital expenditures to $91-93 billion for 2025. Google Cloud revenue grew by 35%, and over 70% of customers use its AI products. The company's net income rose to $34.97 billion, with a 45% increase in stock value this year.