Google Cloud revenue jumps 82% as backlog hits $514B amid AI capex boom
rohanpaul_ai · x · 2026-07-23
- Google Cloud revenue rose 82% year over year this quarter and is approaching a $100B annual run rate.
- Remaining performance obligations, the backlog of contracted work still to be delivered, reached $514B, above Wall Street’s $488B estimate.
- The post frames this as the first major earnings-season test for the AI capex boom, noting Big Tech may spend well over $700B this year on AI and Morgan Stanley has pegged next year’s spend at $1T+.
- It also says Google Cloud is benefiting from its deal with Anthropic.
Related event: Google Cloud Doubles in Q2 but AI Spending Turns Free Cash Flow Negative(60 posts)→
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