Despite a lesser-than-expected cloud revenue, tech behemoth Alphabet Inc. (GOOGL) posted double-digit growth in its top and bottom line for the third quarter, topping estimates. Moreover, notwithstanding the slowdown, the cloud unit posted a $266 million operating profit, compared to an operating loss of $440 million in the prior-year quarter.
Recognizing the potential of Artificial Intelligence (AI), the company is harnessing collaborations to benefit from the AI wave. For instance, last month, GOOGL expanded its partnership with VMware, Inc. (VMW) to deliver Google Cloud’s AlloyDB Omni database on VMware Cloud Foundation. This is expected to help its customers accelerate their AI journey.
