Alphabet's cloud margins are 2.5x the S&P 500 average, backlog surged $52B quarter-over-quarter, and with only 0.5% agentic AI penetration, demand for compute will remain strong, justifying rising capex.
NVIDIA and Broadcom benefit as strategic partners in the AI cloud infrastructure buildout, with cloud companies deploying capital and generating returns. These suppliers are increasingly critical and execute well on product roadmaps.
NVIDIA and Broadcom benefit as strategic partners in the AI cloud infrastructure buildout, with cloud companies deploying capital and generating returns. These suppliers are increasingly critical and execute well on product roadmaps.