US Stock Market Move | Alphabet Inc. Class C (GOOGL.US) rose nearly 6% in the first quarter, with a year-on-year revenue growth of 22%. Alphabet Inc. Class C's cloud business grew by 63%.

On Thursday, Alphabet Inc. Class C (GOOGL.US) rose nearly 6%, reaching a historical high stock price of $370.70. In terms of news, in the first quarter of the 2026 fiscal year, Alphabet Inc. Class C's parent company Alphabet exceeded expectations with a double leap in revenue and profit. Total revenue climbed to $109.9 billion, an increase of 22% year-over-year, significantly surpassing the market's previous prediction of $107.2 billion. Alphabet Inc. Class C's cloud (Google Cloud) business quarterly revenue reached the $200 billion mark for the first time, with a growth rate of 63.4% year-over-year, far exceeding the $12.26 billion from the same period last year. The operating profit of this sector soared from $2.18 billion in the same period last year to $6.6 billion, with an operating profit margin increasing significantly from 17.8% to 32.9%. Market analysts attribute the explosive growth of Alphabet Inc. Class C's cloud business to the strong demand from enterprise customers for generative AI infrastructure and customized TPU chips. Furthermore, the company disclosed that its cloud business backlog orders have almost doubled from approximately $240 billion in the previous quarter to $462 billion, demonstrating the strong commercial appeal and customer stickiness of its AI solutions in long-term markets. During the earnings call, Alphabet announced that due to unprecedented demand for AI, it has raised its full-year capital expenditure guidance for 2026 to $180 billion to $190 billion, and expects a significant increase in capital expenditure in 2027, seen as necessary investment to meet strong demand and support future growth.