Overview
- Alphabet reported $102.3 billion in Q3 revenue, with Google Cloud up about 34% to roughly $15.15 billion and a customer backlog of $155 billion, and it lifted 2025 capex guidance to $91–93 billion.
- The company highlighted rapid AI adoption, saying Gemini has about 650 million monthly active users and handles roughly 7 billion tokens per minute through its API.
- Microsoft posted Intelligent Cloud revenue of $30.9 billion, up 28%, with Azure growing 40% as the company prepares a faster capex build in 2026.
- Meta logged a roughly $15.9 billion U.S. tax charge that cut Q3 net income to about $2.7 billion, guided 2025 capital spending to $70–72 billion, and flagged a notably higher outlay next year.
- Investors rotated sharply—Alphabet shares rose around 6% as Meta fell 8–14% and Microsoft slipped a few percent—while Meta lined up a $25 billion bond sale that drew a record $125 billion in orders and analysts questioned the sustainability of soaring AI infrastructure spend.