BlockBeats News, July 23rd, Google's parent company Alphabet released its Q2 earnings last night. Alphabet Q2 revenue was $1198 billion, a 24% year-over-year increase; operating profit was $40.8 billion, a 30% year-over-year growth; driven by a significant increase in equity gains from investments like Anthropic, net income was $112.1 billion, a whopping 298% year-over-year surge.

Of note, Google Cloud business revenue was $24.8 billion, far exceeding the market's expected $22.5 billion, an 82% year-over-year increase. The company's capital expenditure was $44.9 billion, surpassing the market's expected $44.2 billion. The CEO stated that AI investment is redefining the entire business.