Google Cloud 季度营收同比增长 103% 至 307 亿美元
> Google Cloud revenue rose 103% year on year to $30.7B on demand for AI infrastructure, and Cloud’s operating income tripled year on year to $11.1B.
Google Cloud 营收同比增长 103% 至 307 亿美元，云业务经营利润同比增长两倍至 111 亿美元，主要受 AI 基础设施需求带动。Google 的模型 API 目前每分钟处理近 320 亿 token，是一年前的 4 倍多，Gemini 应用用户达到 10 亿。TPU 芯片销售对云增长有实质贡献，Oracle 已开始提供 TPU，OpenAI 据报也在采购，但 Google 预计 TPU 收入大部分要到 2027 年才体现；AI 数据中心支出使自由现金流为负超过 90 亿美元，高于上一季度的 59 亿美元缺口，共享 AI 研究成本同比增长 71% 至 77 亿美元。
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AI 评分 68
财报数字同时呈现云业务与 AI 基础设施的收入增长和资本开支压力，可对照看 AI 投入的回报节奏。
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正文
> Google Cloud revenue rose 103% year on year to $30.7B on demand for AI infrastructure, and Cloud’s operating income tripled year on year to $11.1B.
> Google’s model APIs now process nearly 32B tokens per minute, more than 4x a year earlier, and the Gemini app reached 1B users.
> TPU chip sales contributed meaningfully to Cloud growth, with Oracle now offering TPUs and OpenAI reportedly buying them, though Google expects most TPU revenue only in 2027.
> AI data center spending left free cash flow negative by more than $9B, deeper than the previous quarter’s $5.9B deficit, while shared AI research costs rose 71% year on year to $7.7B.