Google's CEO says ‘AI is positively impacting every part of the business'
The company is also planning to increase its planned capital expenditures for the year up to $85 billion, according to Pichai. That's an increase of $10 billion, and could be a sign that Alphabet wants to keep pace with massive data center buildouts from companies like OpenAI and Meta. For the quarter, Alphabet reported revenue of $96.4 billion, up 14 percent year over year, with revenues for its 'Google Search' segment reaching $54.1 billion.
Pichai's comments on AI align with recent findings from Pew, which suggested that AI Overviews appear to be successful at getting people answers but at the expense of clicks through to the websites that would otherwise offer them.
During the second quarter, Google hosted its annual I/O developer conference, which was jam-packed with AI-focused announcements like the rollout of AI Mode for Search (which news publishers have called 'theft'), upgrades to its video and image generation models, Gemini AI in Chrome, and much more powerful smart replies in Gmail. (Based on that event, Google's future is Google googling.) And just ahead of I/O, Google hosted an Android-focused show where it revealed the youthful new design language for Android 16.
At the same time, Google is anticipating the ruling from the remedy phase of the Department of Justice's lawsuit, which took place during the second quarter as well. Last August, a judge ruled that Google 'is a monopolist' in that antitrust case, and remedies could include Google getting broken up. (A lot of companies have expressed interest in buying Chrome.)
The company also changed its 'G' logo for the first time in nearly a decade.
Alphabet will be hosting its earnings webcast beginning at 4:30PM ET.
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