Google and Microsoft reported earnings after the bell on Wednesday, with both crushing expectations. Alphabet’s Q1 2026 revenue reached $109.9 billion, up 22% year-over-year, while Google Cloud brought in $20.03 billion—up 63% from $12.26 billion in Q1 2025. Microsoft posted $82.9 billion in revenue, up 18%, with its AI business surpassing an annual revenue run rate of $37 billion, up 123% year-over-year. CEO Sundar Pichai said enterprise AI solutions had become Google Cloud’s “primary growth driver for the first time in Q1.”
The earnings came as OpenAI faced mounting pressure after missing internal revenue and user growth targets. CFO Sarah Friar reportedly warned company leaders that OpenAI might struggle to fund future compute contracts if revenue doesn’t accelerate.
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