Overview

• TD Cowen raised Alphabet’s price target to $270 and kept a Buy rating, citing its GenAI Public Cloud Survey.
• Survey findings place GCP as the second-choice additional cloud provider, with 80% awareness versus 94% for AWS and 93% for Azure.
• Google’s Gemini ranked as the second-most-used underlying LLM at 54% of respondents, behind OpenAI at 73%.
• Alphabet’s latest quarter showed 14% revenue growth, Google Cloud revenue up 32% to about $13.6 billion, operating income more than doubled to $2.8 billion, and backlog up roughly 38% to around $106 billion.
• Analysts continue to view Nvidia as the go-to for large-scale AI training, while reports note AMD’s MI300X is deployed at Microsoft, Meta, Oracle and Dell and performs competitively on some inference workloads.