𝗔𝗹𝗽𝗵𝗮𝗯𝗲𝘁 𝗤𝟯 𝟮𝟬𝟮𝟲 𝗘𝗮𝗿𝗻𝗶𝗻𝗴𝘀: 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗚𝗿𝗼𝘄𝘀 𝟮𝟱% 𝗮𝘀 𝗚𝗼𝗼𝗴𝗹𝗲 𝗖𝗹𝗼𝘂𝗱 𝗦𝘂𝗿𝗴𝗲𝘀 𝟭𝟬𝟯% 𝗼𝗻 𝗔𝗜 𝗗𝗲𝗺𝗮𝗻𝗱 𝖠𝗅𝗉𝗁𝖺𝖻𝖾𝗍 𝗋𝖾𝗉𝗈𝗋𝗍𝖾𝖽 𝖰𝟥 𝟤𝟢𝟤𝟨 𝗋𝖾𝗏𝖾𝗇𝗎𝖾 𝗈𝖿 $𝟣𝟤𝟩.𝟨 𝖻𝗂𝗅𝗅𝗂𝗈𝗇, 𝗎𝗉 𝟤𝟧% 𝖸𝗈𝖸, 𝖽𝗋𝗂𝗏𝖾𝗇 𝖻𝗒 𝗌𝗍𝗋𝗈𝗇𝗀 𝗉𝖾𝗋𝖿𝗈𝗋𝗆𝖺𝗇𝖼𝖾 𝖺𝖼𝗋𝗈𝗌𝗌 @Google 𝖲𝖾𝗋𝗏𝗂𝖼𝖾𝗌 𝖺𝗇𝖽 @googlecloud. 𝖧𝗈𝗐𝖾𝗏𝖾𝗋, 𝗆𝗈𝖽𝖾𝗋𝖺𝗍𝗂𝗇𝗀 𝖲𝖾𝖺𝗋𝖼𝗁 𝖺𝖽𝗏𝖾𝗋𝗍𝗂𝗌𝗂𝗇𝗀 𝗀𝗋𝗈𝗐𝗍𝗁 𝖺𝗇𝖽 𝗌𝗁𝖺𝗋𝗉𝗅𝗒 𝗋𝗂𝗌𝗂𝗇𝗀 𝖠𝖨 𝗂𝗇𝖿𝗋𝖺𝗌𝗍𝗋𝗎𝖼𝗍𝗎𝗋𝖾 𝗂𝗇𝗏𝖾𝗌𝗍𝗆𝖾𝗇𝗍𝗌 𝗋𝖺𝗂𝗌𝖾 𝗊𝗎𝖾𝗌𝗍𝗂𝗈𝗇𝗌 𝖺𝖻𝗈𝗎𝗍 𝗍𝗁𝖾 𝗋𝖾𝗍𝗎𝗋𝗇𝗌 𝗈𝗇 𝗂𝗍𝗌 𝗀𝗋𝗈𝗐𝗂𝗇𝗀 𝖼𝖺𝗉𝖾𝗑. 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀:   • 𝖦𝗈𝗈𝗀𝗅𝖾 𝖢𝗅𝗈𝗎𝖽 𝖾𝗆𝖾𝗋𝗀𝖾𝗌 𝖺𝗌 𝗍𝗁𝖾 𝗀𝗋𝗈𝗐𝗍𝗁 𝖾𝗇𝗀𝗂𝗇𝖾: 𝖱𝖾𝗏𝖾𝗇𝗎𝖾 𝗌𝗎𝗋𝗀𝖾𝖽 𝟣𝟢𝟥% 𝖸𝗈𝖸 𝗍𝗈 $𝟥𝟢.𝟩 𝖻𝗂𝗅𝗅𝗂𝗈𝗇, 𝖽𝗋𝗂𝗏𝖾𝗇 𝖻𝗒 𝗌𝗍𝗋𝗈𝗇𝗀 𝖽𝖾𝗆𝖺𝗇𝖽 𝖿𝗈𝗋 𝖠𝖨 𝗂𝗇𝖿𝗋𝖺𝗌𝗍𝗋𝗎𝖼𝗍𝗎𝗋𝖾, 𝗌𝗈𝗅𝗎𝗍𝗂𝗈𝗇𝗌 𝖺𝗇𝖽 𝖼𝗈𝗋𝖾 𝗌𝖾𝗋𝗏𝗂𝖼𝖾𝗌. 𝖨𝗍𝗌 𝖻𝖺𝖼𝗄𝗅𝗈𝗀 𝗋𝖾𝖺𝖼𝗁𝖾𝖽 $𝟧𝟨𝟣 𝖻𝗂𝗅𝗅𝗂𝗈𝗇, 𝗁𝗂𝗀𝗁𝗅𝗂𝗀𝗁𝗍𝗂𝗇𝗀 𝗋𝗈𝖻𝗎𝗌𝗍 𝖽𝖾𝗆𝖺𝗇𝖽.   • 𝖳𝖯𝖴𝗌, 𝖺 𝖻𝗂𝗀𝗀𝖾𝗋 𝗌𝗍𝗋𝖺𝗍𝖾𝗀𝗂𝖼 𝗉𝗋𝗂𝗈𝗋𝗂𝗍𝗒: 𝖦𝗈𝗈𝗀𝗅𝖾 𝗂𝗌 𝖾𝗑𝗉𝖺𝗇𝖽𝗂𝗇𝗀 𝖳𝖯𝖴 𝗌𝖺𝗅𝖾𝗌 𝖻𝖾𝗒𝗈𝗇𝖽 𝗂𝗍𝗌 𝗈𝗐𝗇 𝖾𝖼𝗈𝗌𝗒𝗌𝗍𝖾𝗆, 𝗐𝗂𝗍𝗁 𝗇𝖾𝖺𝗋𝗅𝗒 𝟣𝟢𝟢 𝖾𝗑𝗍𝖾𝗋𝗇𝖺𝗅 𝖼𝗎𝗌𝗍𝗈𝗆𝖾𝗋𝗌, 𝗂𝗇𝖼𝗅𝗎𝖽𝗂𝗇𝗀 𝖠𝗇𝗍𝗁𝗋𝗈𝗉𝗂𝖼. 𝖧𝗈𝗐𝖾𝗏𝖾𝗋, 𝗆𝖾𝖺𝗇𝗂𝗇𝗀𝖿𝗎𝗅 𝗋𝖾𝗏𝖾𝗇𝗎𝖾 𝖼𝗈𝗇𝗍𝗋𝗂𝖻𝗎𝗍𝗂𝗈𝗇𝗌 𝖿𝗋𝗈𝗆 𝖳𝖯𝖴 𝗌𝖺𝗅𝖾𝗌 𝖺𝗋𝖾 𝖾𝗑𝗉𝖾𝖼𝗍𝖾𝖽 𝗉𝗋𝗂𝗆𝖺𝗋𝗂𝗅𝗒 𝗂𝗇 𝟤𝟢𝟤𝟩.   • 𝖠𝖨 𝗂𝗇𝗏𝖾𝗌𝗍𝗆𝖾𝗇𝗍𝗌 𝖽𝗋𝗂𝗏𝖾 𝖼𝖺𝗉𝖾𝗑 𝗁𝗂𝗀𝗁𝖾𝗋: 𝖰𝟥 𝖼𝖺𝗉𝖾𝗑 𝗌𝗎𝗋𝗀𝖾𝖽 𝟣𝟣𝟦% 𝖸𝗈𝖸 𝗍𝗈 $𝟧𝟣.𝟦 𝖻𝗂𝗅𝗅𝗂𝗈𝗇, 𝖾𝗑𝖼𝖾𝖾𝖽𝗂𝗇𝗀 𝗈𝗉𝖾𝗋𝖺𝗍𝗂𝗇𝗀 𝖼𝖺𝗌𝗁 𝖿𝗅𝗈𝗐 𝗈𝖿 $𝟦𝟤.𝟥 𝖻𝗂𝗅𝗅𝗂𝗈𝗇. 𝖥𝖸𝟤𝟢𝟤𝟨 𝖼𝖺𝗉𝖾𝗑 𝗀𝗎𝗂𝖽𝖺𝗇𝖼𝖾 𝗋𝖾𝗆𝖺𝗂𝗇𝗌 𝖺𝗍 $𝟣𝟫𝟧–𝟤𝟢𝟧 𝖻𝗂𝗅𝗅𝗂𝗈𝗇, 𝗐𝗂𝗍𝗁 𝗌𝗉𝖾𝗇𝖽𝗂𝗇𝗀 𝖾𝗑𝗉𝖾𝖼𝗍𝖾𝖽 𝗍𝗈 𝗋𝗂𝗌𝖾 𝗌𝗂𝗀𝗇𝗂𝖿𝗂𝖼𝖺𝗇𝗍𝗅𝗒 𝗂𝗇 𝟤𝟢𝟤𝟩. 𝗦𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗶𝗻𝗴 𝗰𝗹𝗶𝗲𝗻𝘁𝘀 𝗰𝗮𝗻 𝗮𝗰𝗰𝗲𝘀𝘀 𝗼𝘂𝗿 𝗔𝗜 𝟯𝟲𝟬 𝗣𝘂𝗹𝘀𝗲 𝗿𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗹𝗮𝘁𝗲𝘀𝘁 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀, 𝗲𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝘁𝗿𝗲𝗻𝗱𝘀 𝗮𝗻𝗱 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝘀𝗵𝗮𝗽𝗶𝗻𝗴 𝘁𝗵𝗲 𝗴𝗹𝗼𝗯𝗮𝗹 𝗔𝗜 𝗹𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲. 𝗛𝗼𝘄 𝗶𝘀 𝗚𝗼𝗼𝗴𝗹𝗲 𝗻𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗿𝗮𝗽𝗶𝗱𝗹𝘆 𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗔𝗜 𝗹𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲? 𝗥𝗲𝗮𝗱 𝗼𝘂𝗿 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝗳𝘂𝗹 𝘁𝗮𝗸𝗲: “𝗚𝗼𝗼𝗴𝗹𝗲’𝘀 𝗔𝗜 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗶𝘀 𝗶𝗻 𝗶𝘁𝘀 𝗼𝘄𝗻 ‘𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿𝘆 𝗟𝗼𝗼𝗽” - #Alphabet# #Google# #AlphabetEarnings# #GoogleCloud# #AI# #AIInfrastructure# #TPU# #DataCenters# #CloudComputing# #BigTech# $GOOG

Another strong quarter of Alphabet earnings driven by our full-stack approach! I’m incredibly proud of how our teams are taking frontier capabilities and bringing them to billions of users around the world through products like Google Search. Some highlights we shared: + Our AI-powered features are driving increased Search usage. + AI Overviews and AI Mode are driving growth in overall queries, and AI Mode has over 1 billion monthly users! + Search usage hit an all-time high during the World Cup this year, showing how much people turn to Google in these global moments. + We continue to accelerate the use of Gemini across our ads stack – improving ads quality, advertiser tools, and new AI user experiences. In fact, over half our SMB customers are now using AI to create or optimize their creatives. An important part of how we deliver results like these is behind-the-scenes work that users don’t usually see but absolutely feel. Two recent examples I love: + Search was able to handle record-breaking queries per second during the World Cup thanks to awesome advanced infra and capacity planning work. + We reduced the cost of serving AI Mode responses to their lowest since launch -- even as we’ve introduced more advanced AI capabilities -- thanks to really smart eng and hardware optimizations. Zooming out, as a long-time Googler, it’s exciting for me to see how Cloud is taking off with revenue growing 82%… a strong proof-point of our differentiated full-stack approach delivering real value to users and customers! Huge thanks to the Googlers, users, customers, and partners making this possible… lots to look forward to!

What could move U.S. stocks this week? The Fed, inflation data and Big Tech earnings all collide in one of the busiest market weeks of the quarter. • Oct. 28: Fed decision + Microsoft + Alphabet earnings • Oct. 29: U.S. Q3 GDP + PCE + Amazon earnings • Oct. 30: ExxonMobil + Chevron earnings Can strong AI and cloud growth keep supporting tech stocks, or will higher yields put valuations back under pressure? Read the full outlook: