Alphabet benefits from SpaceX’s $800B valuation surge, boosting paper gains and investor interest ahead of a possible IPO.


Alphabet Exposure to SpaceX Grows as Valuation Soars to $800B

In Q2 2024, Alphabet Inc. demonstrated impressive financial growth with a 28.6% rise in profits despite significant losses in its AI research division. The company’s revenue of $84.7 billion, driven primarily by Google and YouTube ads, surpassed expectations by $14 billion. Alphabet’s cloud business also marked a milestone by crossing $10 billion in revenue for the first time, highlighting the effectiveness of its AI initiatives. These results reflect Alphabet’s strong market position and ongoing innovation.

Alphabet Exposure to SpaceX Grows as Valuation Soars to $800B

Alphabet Reports 29% Profit Boost in Q2 2024 Despite AI Research Losses