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Alphabet Inc., the parent company of Google, operates as a collection of businesses with Google being the largest. The company reports its operations in three segments: Google Services, Google Cloud, and Other Bets. Alphabet Inc. generates revenue primarily through advertising, consumer subscriptions, and sales of apps and devices, with Google Services accounting for the majority of its revenue . Google Cloud provides infrastructure and platform services for enterprise customers, while Other Bets includes emerging businesses like Waymo and Wing, focusing on healthcare-related and internet services .
- Google Services - Encompasses products like ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube, generating revenue through advertising, consumer subscriptions, and sales of apps and devices .
- Advertising - Drives significant revenue through platforms like Google Search and YouTube .
- Consumer Subscriptions - Includes services like YouTube TV and YouTube Music .
- Google Cloud - Provides infrastructure, platform services, and collaboration tools for enterprise customers, contributing to revenue through consumption-based fees and subscriptions .
- Other Bets - Comprises emerging businesses such as Waymo and Wing, generating revenue primarily from healthcare-related services and internet services .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Anat Ashkenazi Executive | CFO and SVP of Alphabet and Google | None reported | Joined Alphabet in 2024; previously CFO at Eli Lilly; focuses on long-term investments and financial strategy. | |
Kent Walker Executive | President, Global Affairs, Chief Legal Officer, and Secretary | Executive Council at TechNet.org | Joined Google in 2006; oversees legal, compliance, and government affairs; advocates on competition and privacy issues. | |
Philipp Schindler Executive | SVP and Chief Business Officer | Scholar of the Studienstiftung des deutschen Volkes | Joined Google in 2005; oversees global sales, partnerships, and business operations. | |
Prabhakar Raghavan Executive | Chief Technologist of Google LLC | National Academy of Engineering; Fellow of ACM and IEEE | Joined Google in 2012; previously led Search and Ads; transitioned to Chief Technologist in 2024. | |
Ruth M. Porat Executive | President and Chief Investment Officer; CFO | Blackstone Inc.; Council on Foreign Relations; Memorial Sloan Kettering Cancer Center; Stanford Management Company; Bloomberg Philanthropies | Joined Alphabet in 2015 as CFO; extensive financial expertise; oversees investments and financial strategy. | |
Sundar Pichai Executive | CEO of Alphabet and Google | The Pichai Family Foundation | Joined Google in 2004; became CEO of Google in 2015 and CEO of Alphabet in 2019; led AI-focused strategy. | View Report → |
Frances H. Arnold Board | Independent Director | Illumina, Inc.; President’s Council of Advisors on Science and Technology; U.S. National Academies of Science, Medicine, and Engineering; California Institute of Technology | Nobel Prize-winning scientist; joined Alphabet's board in 2019; focuses on science and technology innovation. | |
John L. Hennessy Board | Chair of the Board of Directors | Gordon and Betty Moore Foundation; Queen Elizabeth Prize for Engineering Foundation; Chan Zuckerberg Biohub | Joined Alphabet's board in 2004; former President of Stanford University; provides strategic oversight as Chair of the Board. | |
K. Ram Shriram Board | Independent Director | Sherpalo Ventures; Yubico; Council on Foreign Relations; Stanford Health Care; Indiaspora | Early investor in Google; joined Alphabet's board in 1998; extensive experience in venture capital and technology. | |
L. John Doerr Board | Independent Director | Kleiner Perkins; DoorDash, Inc.; Climate Imperative; The Aspen Institute | Venture capitalist; joined Alphabet's board in 1999; extensive experience in technology investments. | |
Larry Page Board | Co-Founder and Director | Chair of the Executive Committee at Alphabet; The Carl Victor Page Memorial Foundation | Co-founded Google in 1998; served as CEO of Google and Alphabet; instrumental in developing Google's search engine and business model. | |
R. Martin Chávez Board | Independent Director | Sixth Street; Recursion Pharmaceuticals; Stanford Medicine Board; The Broad Institute of MIT and Harvard | Former Goldman Sachs executive; joined Alphabet's board in 2022; expertise in finance and technology. | |
Robin L. Washington Board | Independent Director | Honeywell International, Inc.; Salesforce, Inc.; Vertiv Holdings Co.; Mastercard Foundation; UCSF Benioff Children’s Hospital Oakland | Former CFO of Gilead Sciences; joined Alphabet's board in 2019; expertise in financial operations and corporate governance. | |
Roger W. Ferguson Jr. Board | Independent Director | Corning; International Flavors & Fragrances, Inc.; Smithsonian Institution; Group of Thirty | Former CEO of TIAA; joined Alphabet's board in 2016; expertise in economics and financial management. | |
Sergey Brin Board | Co-Founder and Director | The Sergey Brin Family Foundation | Co-founded Google in 1998; served as President of Google and Alphabet; contributed to Google's core technologies and innovation. |
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Google Cloud's operating margins have improved to 17% this quarter, but competitors in the industry have materially higher margins closer to 30%; what specific steps are you taking to further improve cloud margins, and how confident are you that you can match or exceed competitor margins in the future?
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Given the significant investments in AI and technical infrastructure leading to increased depreciation and expenses, how do you plan to balance these costs with the need for cost discipline and delivering profit growth, especially with anticipated headwinds in Q4 revenue due to hardware launch pull-forwards?
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With YouTube Shorts reaching over 70 billion daily views and the monetization gap with traditional in-stream content narrowing, what strategies are you implementing to further accelerate monetization of Shorts, and how significant do you expect Shorts to be in driving YouTube's overall ad revenue growth?
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As Waymo expands and serves over 150,000 paid rides weekly, can you provide more details on the financial performance and the path to profitability for Waymo, including timelines and how it will impact Alphabet's overall financials?
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With the introduction of AI-enabled search features and products powered by large language models like Gemini, how do you plan to monetize these new experiences without cannibalizing traditional search advertising revenues, and what are the potential risks and constraints to scaling these AI innovations across your vast user base?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Mandiant | 2022 |
Recent press releases and 8-K filings for GOOGL.
- Isomorphic Labs, founded in 2021 as a Google DeepMind spinout, is developing a general AI drug-design engine for multiple diseases and modalities.
- It leverages AlphaFold3’s advanced protein structure prediction to accelerate and refine drug discovery processes.
- The company secured $600 million in external funding in April 2025, led by Thrive Capital, and formed partnerships with Novartis and Eli Lilly.
- Human clinical trials for its AI-designed drugs are imminent, marking a significant milestone in tech-driven pharmaceutical innovation.
- US stocks kicked off the week higher after closing at an all-time high last Friday
- Canada has withdrawn its digital services tax on tech to restart US trade talks, with a deal targeted by July 21
- OPEC+ plans to increase oil output by 411,000 barrels per day in August, the fourth consecutive monthly boost
- OpenAI has started renting Google’s AI chips, marking a notable shift from Nvidia and aiding Alphabet’s cloud growth
- European Central Bank forum in Sintra features speeches from Lagarde and Powell, spotlighting upcoming central bank policy decisions
- Google agreed to purchase 200 MW of fusion power from Commonwealth Fusion Systems in the first direct power purchase agreement with a fusion energy company.
- The company is also increasing its investment in CFS, complementing the $1.8 billion raised in 2021 to accelerate R&D for its commercial “Arc” plant.
- The 200 MW represents about half of the planned capacity, which could power roughly 75,000 homes.
- Alongside fusion, Google secured a 600 MW solar deal in South Carolina as part of its commitment to eliminate its carbon footprint by 2030.
- Alphabet named top pick for its under-appreciated AI play and 8–9% YTD share gain among Mag 7 peers.
- Antitrust overhang could clear in August if DOJ avoids forcing a Chrome sale or banning search distribution, unlocking a key rerating catalyst.
- Growth drivers include sustaining 11–15% search revenue growth, monetizing Gen AI searches, and upside from YouTube, Google Cloud and optional Waymo.
- Trading at 17× earnings with potential to re-rate to 20–25× after legal resolution and AI execution catalysts materialize.
- The European Commission will ask EU leaders at the Brussels summit how to respond to the US’s July 9 deadline, choosing between a quick trade deal or escalating the tariff conflict.
- Most member states prefer a rapid agreement to avoid prolonged US threats of higher tariffs beyond current rates (50% on steel/aluminum, 25% on cars and parts, 10% on other goods).
- To counter the perceived bias, the EU may introduce a digital advertising tax on US tech giants including Google, Meta, Apple, X, and Microsoft.
- Waymo, Alphabet’s self-driving unit, now runs commercial robotaxi services in multiple US cities, with similar driverless operations appearing in China and Tesla planning a service in Austin.
- The shift from prototype to profitable business rests on rapidly falling vehicle costs, as sensor and compute expenses decline sharply.
- Scalability is improving through enhanced digital mapping and data-sharing across fleets, expanding the service area for robo taxis.
- Reduced hardware costs and better operational metrics are fueling investor interest, indicating a path toward positive margins for driverless taxi fleets.
- $75 billion CAPEX planned for 2025 to support long-term AI infrastructure across Search, YouTube, Cloud, Android, and Waymo
- Gemini-powered AI is deployed to improve YouTube recommendations and filter low-quality, AI-generated content
- AI overviews have been tested to drive high-quality outbound traffic, increasing click diversity and time spent per click
- Sundar Pichai characterizes AI as an expansionary force, anticipating new dominant companies in the AI era within three years
- Advocate General Juliane Kokott recommended dismissing Alphabet’s appeal and largely upholding the €4.124 billion Android antitrust fine.
- The original Commission fine of €4.34 billion (2018) was slightly reduced by the General Court before this latest recommendation.
- Although non-binding, the Court of Justice often follows such opinions, marking a significant legal setback for Alphabet.
- Google cautioned that upholding the fine could discourage investment in open platforms and harm users, developers and partners.
- Waymo expanded its self-driving taxi service by over 80 square miles across Los Angeles, San Francisco, and Silicon Valley, while still excluding major international airports.
- Now operating a fleet of over 1,500 vehicles, Waymo delivers more than 250,000 rides weekly and has reached 10 million paid autonomous rides.
- Recalled over 1,200 vehicles to deploy software updates addressing collision risks following a federal investigation.
- Expansion comes ahead of Tesla’s anticipated Austin robotaxi launch, highlighting intensifying competition and strengthening investor confidence in Alphabet.
- The U.S. Department of Justice is conducting an antitrust review of Alphabet’s planned $32 billion acquisition of Israeli cybersecurity firm Wiz, one of the largest cybersecurity deals ever.
- Regulators are concerned the deal could reduce competition in the cloud security market, where Google competes with Microsoft and Amazon, with the review expected to last several months.
- Wiz, founded in 2020, has annual revenues exceeding $500 million and integrates with major cloud platforms including AWS, Azure, and Oracle.
- If the acquisition is blocked, Google would owe Wiz a $3.2 billion breakup fee, underscoring the transaction’s regulatory risks and strategic importance.