Alphabet (GOOG) exceeded $100B in quarterly revenue for the first time with Q3 revenue up 16% to $102.35B.
Alphabet’s cloud unit holds a $155B customer backlog as it challenges Nvidia and races toward a $4T valuation.
Meta Platforms reported Q3 sales of $51.2B (up 26% year-over-year) with daily active users reaching 3.54B.
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Retail investors can benefit from investing in artificial intelligence (AI) companies that are bringing the next-generation transformation. The global AI market is set to hit $4 trillion by 2033, and this means several companies will see higher valuations, and their stocks have the potential to skyrocket. Billionaires like Warren Buffett, Philippe Laffont, and Ken Griffin keeping buying Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and Meta Platforms Inc. (NASDAQ: META). These two AI stocks are prominent industry players and have become hot property, making them brilliant picks for long-term investors.
Alphabet is an unstoppable stock billionaires are loading up on. A popular purchase in the third quarter, Alphabet has become a part of several hedge funds. Investor Warren Buffett’s Berkshire Hathaway increased its stake in the company by 1.62%, taking the total holding to 22.69%. Billionaire Philippe Laffont also increased his position by 3.32% in the quarter.
While there’s no doubt that Alphabet is an excellent stock to own, it has got the vote of confidence from the best investors in the country. Once criticized for making a late entry in the AI industry, Alphabet has turned the tables around. Meta Platforms is mulling the use of Google chips and could spend billions on it.
It was late to launch the generative AI model, but Gemini has become one of the leading AI models today. It is integrated into the Google search engine and provides a generative AI-powered summary of search results. It has gained massive appreciation for the new AI model, Gemini 3.0, and is considered one of the most capable AI systems today.
Alphabet continues to rule the search segment, and its numbers are proof that the company is walking the right path. In the third quarter, the revenue was up 16% year over year to $102.35 billion and the EPS increased 35% year over year to $3.10. This is the first time that Alphabet topped $100 billion in quarterly revenue. Its cloud unit has an impressive $155 billion backlog from customers. The company is challenging Nvidia’s supremacy as it races towards the $4 trillion valuation.
