This article first appeared on GuruFocus.
Alphabet (NASDAQ:GOOGL) shares slipped about 1% on Wednesday after the company unveiled Gemini 3, began selling its Ironwood chip and highlighted a roughly $155 billion cloud backlog.
Gemini 3 is the newest version of Alphabet’s generative model and the firm says it improves accuracy and usability across Search, Gmail, YouTube and the Gemini app.
The company also released Nano Banana Pro, an upgraded image tool, and started offering Ironwood, its seventh-generation tensor chip, to cloud customers. Alphabet says Ironwood is about 30 times more power-efficient than its 2018 chip.
Executives said the full-stack strategy, models, custom chips and Google Cloud integration, driving enterprise interest and helped lift quarterly revenue above $100 billion.
Analysts note tough competition: Nvidia (NVDA) keeps a leading share of the AI-chip market while OpenAI and Anthropic push model development.
