Google Cloud revenue jumps 103% to $30.7B in Alphabet's Q3

Google Cloud's revenue surged 103% year on year in the third quarter of 2026, reaching $30.7 billion, according to Alphabet's latest quarterly results. The figure marks a change of scale for the company's AI-related businesses.

Alphabet is the third of the big cloud providers to report in this earnings round, after Microsoft and Amazon. Its growth outpaces that of Microsoft Azure, which rose 48%, and Amazon Web Services, up 39.3%.

Figures that are not strictly comparable

The three groups do not define their cloud businesses in exactly the same way. The scope of each activity differs, so the percentage gaps should be read with caution, even though the direction is clear: artificial intelligence is accelerating growth across all three cloud giants.

A less comfortable picture for search

Investors do not treat the three companies identically. While AI is lifting cloud revenue, integrating generative AI into Google's search engine is shaking up the economic model on which the group has long relied. The concern is that new ways of answering queries could change how the search business makes money.

This tension explains why a spectacular cloud quarter does not automatically translate into unanimous enthusiasm on the stock market. Cloud growth shows that Alphabet is capturing demand linked to AI, but the company must also show that its historic core business can adapt to the same technology.

What to watch

The next results will show whether Google Cloud can sustain this pace and how Alphabet handles the transition of search toward generative AI. For businesses, the numbers confirm that AI infrastructure spending is now a major driver of the cloud market.