Alphabet’s stock has doubled in 12 months, fueled by 63% cloud revenue growth and AI integration in Google Search.
Alphabet (GOOG, GOOGL) shares have risen nearly 100% over the past year, outpacing expectations for the world’s second-largest company. The rally reflects strong performance in Google Cloud, which saw revenue jump 63% year-over-year in Q1, and AI-driven enhancements to Google Search.
A year ago, concerns lingered over generative AI displacing Google’s core search business. Instead, Alphabet integrated AI into search, boosting user engagement. Google Search revenue climbed 19% in Q1, underscoring its resilience amid competition.
The company’s cloud division remains a key growth driver, capitalizing on demand for AI infrastructure. Analysts note Alphabet’s ability to monetize AI adoption while maintaining dominance in digital advertising.