Alphabet Cloud Accelerates 63% with $462B Backlog, Eyes More Upside

Alphabet Inc - Class C shares jumped 6% to 368.54 post-Q1 earnings as Google Cloud revenue soared 63% YoY to $20.03B, crushing $18.4B estimates amid 800% GenAI growth and Wiz acquisition boost. Pre-earnings forecasts from Zacks and FactSet anticipated 48-58% cloud expansion, but capacity limits and a doubled $462B backlog underscore surging AI demand. Latest insights highlight cloud operating income tripling to $6.6B at 33% margins, signaling sustained upside despite $180B+ 2026 capex.