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Google Cloud revenue rises 103% to $30.7 billion, Alphabet reports

Alphabet's release credits enterprise AI infrastructure and AI solutions plus TPU system sales, and Pichai says Gemini 4 Argon and Carbon are now leading at the frontier.

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Check our sources · 11 facts from 2 sources
Illustration: A white cabinet with bays; its green sealed trays stand for the hardware systems Google Cloud sells.Illustration made with AI for ai notis
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Key points

  1. Alphabet's release says Google Cloud revenue rose 103% to $30,709 million in the third quarter of 2026, against $15,157 million in the third quarter of 2025.
  2. Google Cloud operating income was $11,121 million, against $3,594 million a year earlier; purchases of property and equipment were $51,355 million, against $23,953 million.
  3. Pichai says Alphabet's first-party model APIs now process nearly 32 billion tokens per minute, more than four times what they processed a year ago.

What happened

Google Cloud's revenue more than doubled in the third quarter, reaching $30.7 billion against $15.2 billion a year earlier, Alphabet reported. The figures are in Alphabet's results release for the quarter, filed as Exhibit 99.1 and dated 28 October 2026, and in its Form 10-Q for the quarter ended 30 September 2026.

The release says sales of TPU systems, Google's own AI chips sold as hardware, were a meaningful contributor to that growth. Google Cloud's operating income was $11.1 billion, against $3.6 billion a year earlier.

Spending on property and equipment in the quarter was $51.4 billion, more than twice the $24.0 billion of the third quarter of 2025. Sundar Pichai says the company's first-party model APIs now process nearly 32 billion tokens per minute, more than four times a year ago, and that the Gemini app has reached one billion users.

Pichai also says Gemini 4 Argon and Carbon are now leading at the frontier, which is his assessment and not a measured result. The 10-Q puts Alphabet's revenue backlog, the customer commitments not yet recognised as revenue, at $567.7 billion, of which $560.8 billion relates to Google Cloud.

What it means for you

Our view

Alphabet's release credits both enterprise AI services and TPU hardware sales, so the growth is not only model usage: the 10-Q says Google Cloud product sales generally consist of TPU systems.

Pichai's statement that Gemini 4 Argon and Carbon are leading at the frontier is his own assessment, and the release gives no measured comparison. The filings do not say how much of the revenue comes from each source.

If you buy Google Cloud AI services, check which Gemini model and which hardware your contract names, and whether it fixes the price for the term.

It adds no new facts.

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Check our sources

Every sentence above is checked against these 2 sources.

1 Alphabet Q3 2026 results, Exhibit 99.1Alphabet Inc. (SEC filing) · 28 Oct 2026 · 8 facts Open the source archived copy

  1. Alphabet's release says Google Cloud revenues increased 103% to $30.7 billion in the third quarter of 2026 ($30,709 million, against $15,157 million in the third quarter of 2025).

    Google Cloud delivered record growth as revenues increased 103% to $30.7 billion, led by strong growth in Google Cloud Platform (GCP) across enterprise AI infrastructure and enterprise AI solutions ... Google Cloud 15,157 30,709
    cite

  2. The results release is Exhibit 99.1 and is dated 28 October 2026.

    Alphabet Announces Third Quarter 2026 Results MOUNTAIN VIEW, Calif. - October 28, 2026
    cite

  3. The release says TPU systems sales were a meaningful contributor to revenue growth.

    TPU systems sales were also a meaningful contributor to revenue growth.
    cite

  4. Google Cloud operating income was $11,121 million in the third quarter of 2026, against $3,594 million a year earlier.

    Operating income (loss): ... Google Cloud 3,594 11,121 (Quarter Ended September 30, 2025 2026, in millions)
    cite

  5. Purchases of property and equipment were $51,355 million in the third quarter of 2026, against $23,953 million in the third quarter of 2025.

    Purchases of property and equipment (23,953) (51,355) (Quarter Ended September 30, 2025 2026)
    cite

  6. Pichai says in the release: "Overall, our first-party model APIs are now processing nearly 32 billion tokens per minute, more than four times what we processed a year ago." the company says

    Overall, our first-party model APIs are now processing nearly 32 billion tokens per minute, more than four times what we processed a year ago.
    cite

  7. Pichai says in the release that the Gemini app has reached one billion users. the company says

    On top of that, the Gemini app has reached one billion users
    cite

  8. Pichai says in the release: "Gemini 4 Argon and Carbon are now leading at the frontier." the company says

    Gemini 4 Argon and Carbon are now leading at the frontier.
    cite
2 Alphabet Form 10-Q for the quarter ended 30 September 2026Alphabet Inc. (SEC filing) · 28 Oct 2026 · 3 facts Open the source archived copy

  1. The 10-Q covers the quarter ended 30 September 2026.

    For the quarterly period ended September 30, 2026
    cite

  2. The 10-Q says Google Cloud product sales generally consist of the sale of TPU systems.

    Our Google Cloud product sales generally consist of the sale of TPU systems comprising hardware, software, installation, support, and extended warranty services.
    cite

  3. The 10-Q says Alphabet had $567.7 billion of remaining performance obligations (revenue backlog) at 30 September 2026, of which $560.8 billion related to Google Cloud.

    As of September 30, 2026, we had $ 567.7 billion of remaining performance obligations (revenue backlog), of which $ 560.8 billion related to Google Cloud.
    cite

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