Google Cloud revenue accelerated 82% driven by AI and TPU sales
Google Cloud revenues surged to $24.8 billion, up 82% year-over-year, primarily from infrastructure and platform services; the company also began recognizing revenue from the sale of TPU systems in Q2 2026.
$99 billion unrealized gain on equity securities inflated net income
Other income, net included $99 billion in net gains on equity securities, largely unrealized gains from SpaceX and a private company, causing net income to nearly quadruple to $112.2 billion.
$49.6 billion equity raise to fund AI infrastructure
In June 2026, Alphabet raised $49.6 billion through a combination of Class A, Class C, and mandatory convertible preferred stock, with proceeds intended for scaling AI infrastructure and global compute.