🔍 Street Takeaways - Alphabet Q3 Earnings ($287.71 -$37.18) Overview: • Shares (11.4%). Revenue +24.7% y/y missed by (0.3%). Services missed on the top line as Ads were below by (1.9%) while Cloud mitigated beating by 6.9%. • GAAP operating margin on gross revenue (210bps) y/y missed by (190bps); OM on net revenue +80bps y/y and below by (230bps). FCF ($9.07B) was ($6.37B) below consensus. • Full-year 2026 CapEx guidance remains $195B-$205B with significant increase expected in 2027. • Analysts were mixed following the print. Slight miss in the quarter was attributed to deceleration in Search more than offsetting GCP revenue +103% y/y. Those leaning more hesitant feel pending transition to agentic experience presents material execution risk for search monetization. Others more positive call out multiple reasons for Buy including AI platform development, rather than new products, and competition for compute maximizing ROICs on Capex. RSI investment and cadence of innovation across AI stack also cited underscoring constructive views. $GOOG $GOOGL #Google# #Earnings# #TechEarnings# #Tech# #GoogleCloud# #FCF# #EPS# #GCP# #GoogleSearch# #CloudRevenue# #AI# #AgenticAI# #Capex# #CloudComputing# #FinTwit# Gain immediate access to earnings insights with #StreetAccount#:

Google will block students from using Google Search on school accounts if their schools choose to disable AI entirely The change begins rolling out in early 2027, with Google saying AI and Search are too closely integrated to separate

Google’s greatest competitive advantage may not be building a faster chip than $NVDA but building AI infrastructure at a lower cost. After years of designing accelerators around its own AI workloads, $GOOG is bringing that advantage to outside customers. Selling TPUs opens a massive new revenue opportunity, with analyst forecasts ranging from $100 billion to $250 billion by 2028. At the high end, that would rival what took Google Search decades to achieve. The catch? HBM shortages and customer financing could limit how quickly this opportunity translates into cash flow. Read our latest analysis here.⬇️

Google Search briefly showed a false report that OpenAI CEO Sam Altman had died. On August 12, 2026, Google’s Knowledge Panel displayed a fake death date for Altman, along with other false info The info appears to have come from a vandalized Wikipedia page that had been edited with a fake death date and an unsupported claim about his death. The Wikipedia page was quickly fixed, and Google later removed the false information too but this wasn’t an AI Overview making something up, it appeared in Google’s normal Search results.

Google Search is officially over. Google is now shifting away from traditional search results and moving deeper into AI-generated answers, assistants, and automated browsing experiences.

🚨 GOOGLE DEEPMIND CEO @DEMISHASSABIS ON WHY GOOGLE DIDN'T RELEASE ITS CHATBOT BEFORE CHATGPT: "The Google Brain side of it had a product, a very early one, it was called LaMDA… there'd been a conscious decision not to release that, and it was obviously in retrospect probably the wrong decision" Why Google held back: "Google Search is for organizing the world's information. That's its bread and butter… it's sort of doubly tricky to think about putting out a bot that 20% of the time gives you the wrong information" On OpenAI: "A startup, especially with someone like Sam leading it, it's like, go for it. You only live once. YOLO it… They would've named it something catchier if they knew how big it was gonna get" What surprised everyone: "People still found, obviously very creatively once millions of people use it, oh, you can summarize things, can help with homework… there was this huge demand for even those kind of early use cases, and that's what caught everyone by surprise"

Following Google's recent earnings miss, management pointed to AI Mode's lower monetization as a headwind. YipitData's data shows why: AI Mode's share of Google Search sessions jumped from 1.2% to 8.9% YoY, a more than 700% increase.