Alphabet's $100 Billion Quarter Shows AI Isn't Just for Chips, It's for Ads, Too

It wasn't so long ago that people were really concerned about Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). The company was embroiled in lawsuits filed by the Justice Department alleging unfair practices, and ChatGPT posed a direct threat to Google's dominant search business.But Alphabet shook those fears off. The legal threats are gone. Google's AI-powered search is proving to be popular, and Alphabet is having a fabulous year. It's the second-best performing member of the "Magnificent Seven" cohort of stocks, with a 48% gain that trails only Nvidia. Alphabet announced its first-ever quarter of posting $100 billion in revenue in its third-quarter results on Oct. 29. And while the company got a lot of attention for its successes with Google Cloud and its planned spending on artificial intelligence (AI) infrastructure, I was most struck by Alphabet's results as an advertising cash-printing machine.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool