Sundar Pichai Reported Alphabet's Cloud Backlog Hit $514 Billion After 82% Revenue Growth Last Quarter, With Nearly 90% of the Fortune 100 Using Gemini Enterprise. Is Google Cloud Becoming a Bigger Growth Driver Than Search?

Key Points Google Cloud provided more than 20% of Alphabet's Q2 revenue. While Amazon and Microsoft are still the top two cloud infrastructure providers globally, No. 3 Google Cloud is gaining ground. 10 stocks we like better than Alphabet › Tech sector investors already knew Google Cloud was growing rapidly, but even most bulls were not prepared for the magnitude of growth that showed up in Alphabet 's (NASDAQ: GOOG) (NASDAQ: GOOGL) second-quarter results. Cloud revenue surged by 82% year over year, and on the earnings call CEO Sundar Pichai highlighted the unit's $514 billion backlog. AI has been a major component of Alphabet's recent success, with nearly 90% of Fortune 100 companies using Gemini Enterprise.