Alphabet's SpaceX Stake Fuels $98 Billion Gain, Beating Estimates The latest quarterly results from Alphabet Inc. , parent company of Google, have sent shockwaves through the tech industry.
A significant portion of the $98 billion gain comes from equity investments in companies like SpaceX, rather than revenue generated by AI driven products and services.
Alphabet's success can be attributed to its strategic investments, particularly in the consumer space. Revenue grew 24% to $119. 8 billion, with AI playing a crucial role in driving this growth.