The short version

Alex Kantrowitz predicted on July 31, 2024: “Except it hasn’t worked out that way — at least not yet. Google today is thriving. It’s turned in double-digit percentage sales growth this year and hasn’t given up its dominant lead in search. Its cloud business just hit $10 billion in quarterly revenue for the first time, partly thanks to a surge…

Prediction by

Alex Kantrowitz

On July 31, 2024

“Except it hasn’t worked out that way — at least not yet. Google today is thriving. It’s turned in double-digit percentage sales growth this year and hasn’t given up its dominant lead in search. Its cloud business just hit $10 billion in quarterly revenue for the first time, partly thanks to a surge in generative AI interest. Over the past year, it’s been a better investment than Microsoft, the consensus AI leader. Google’s stock is up 37% across the past twelve months against Microsoft’s 19%, and it leads Microsoft 21% to 12% year to date. Generative AI technology, meanwhile, is boosting Google’s cloud services unit as enterprises try to unlock its value. But so far, Google’s made it through the first generative AI wave with far less damage than anticipated. And now it may be moving forward from a position of strength.”

Follow-up

Google maintained dominant search market share, grew ad/search revenues, and saw cloud revenues aided by generative AI demand, positioning itself as a leading beneficiary of the generative AI cycle.

From the High Caliber AI network — see the AI for PR module in the course.