Alphabet Inc.

Nature and structure

• Alphabet is the parent company of Google and is organized as a collection of independent businesses, with Google as the largest subsidiary.
• Google is reported in two segments: Google Services and Google Cloud. All non-Google businesses are grouped as Other Bets.
• Alphabet centralizes AI-related R&D at the corporate level to support its businesses.
• The company follows an AI-first, full-stack development model that includes AI-optimized infrastructure, research and tooling, and products that bring AI to billions of users and enterprises.
• Alphabet maintains independence among its businesses and invests for the long term in frontier technologies, including AI and quantum computing.

Key AI and infrastructure emphasis

• AI-optimized infrastructure is a foundational differentiator for Google products (Search, YouTube) and Google Cloud services.
• Alphabet develops custom AI accelerators, including TPUs (for example, Ironwood and seventh-generation TPUs).
• Gemini is the core family of AI models with multimodal, agentic, and generative coding capabilities. Gemini 3 is the latest model, designed for advanced multimodal understanding and interactive experiences and is integrated with Search and the Gemini app.
• Gemini models are embedded across Alphabet’s product ecosystem and are used in more than 15 products with hundreds of millions of users; seven of those products have two billion users.

Google Services

• Primary revenue source: advertising (performance and brand) delivered across Google Search, YouTube, and Google Network properties.
• The company applies quality controls such as filtering invalid traffic and blocking problematic sites to protect users and advertisers.
• Other revenue streams:
  • Consumer subscriptions: YouTube TV, YouTube Music and Premium, Google One (including Gemini access), NFL Sunday Ticket, and others.
  • Platforms: Google Play (apps and in-app purchases).
  • Devices: Pixel devices and related hardware.
• AI underpins advertising tools (for example, Demand Gen, Performance Max, Product Studio) and supports a shift toward more natural-language, multimodal experiences such as AI Overviews and AI Mode. Google Services focuses on delivering useful, secure experiences with ongoing AI-driven enhancements.

Google Cloud

• Revenue model: primarily consumption-based fees and subscriptions for infrastructure, platform, applications, and other cloud services.
• Key offerings and capabilities:
  • AI-optimized infrastructure available in the cloud, at the edge, or in customers’ data centers; includes TPUs and GPUs and AI-optimized storage.
  • Developer platform: Vertex AI for accessing, tuning, augmenting, and deploying models and agents; supports over 200 foundation models, including the Gemini family and third-party/open models.
  • Cybersecurity: AI-powered threat intelligence and protection.
  • Data and analytics: data migration, cleaning, preparation, governance, and a unified data lake/warehouse with AI integration.
  • Agents: Gemini Enterprise (a secure platform to discover, create, and run AI agents) and Gemini for Google Workspace (AI-powered agents in Gmail, Docs, Sheets, etc.) to automate workflows and improve productivity.

Key products and adoption

• Alphabet operates more than 15 products used by hundreds of millions of users; seven of those products have two billion users.
• Gemini models are embedded across the product ecosystem, including Search, YouTube, and the Gemini app, with enterprise offerings such as Gemini Enterprise and Gemini for Google Workspace.

Other Bets

• Other Bets are independent companies that pursue long-horizon, frontier ventures. Examples include:
  • Waymo: autonomous driving and paid ride-hailing services in multiple cities.
  • Isomorphic Labs: AI-driven drug discovery.
• Other Bets span stages from research to commercialization, with revenue primarily from autonomous transportation and internet services.

People and investment context

• As of December 31, 2025, Alphabet had 190,820 employees.
• Alphabet invested more than $200 billion in R&D over the prior five years.
• The company operates under governance structures designed to comply with laws across jurisdictions and to preserve the independence of Other Bets.

Bottom line

Alphabet is a diversified technology and AI-focused conglomerate. Its largest business, Google, spans advertising-driven consumer services and cloud products, supported by an AI and hardware/software ecosystem (Gemini models, Vertex AI, TPUs, Android/Chrome devices) and a portfolio of long-horizon Other Bets pursuing autonomous and biotech ventures. The company emphasizes scalable AI infrastructure, a full-stack AI strategy, and continued investment in research and development.