HSBC, Alphabet Shares Rise on Expanded Google Cloud AI Deal

HSBC announced a multi-year partnership with Google Cloud to expand AI use across wealth management, financial crime risk management, and employee productivity. The bank aims to enable 200 additional AI-powered tasks over two years, with select projects expected to deliver over $100 million each in revenue or efficiency gains. HSBC already runs 600 applications on the platform and will access Google’s Gemini model. Later updates on the same day showed HSBC shares climbing 1.81% and Alphabet Class A shares rising 1.06%, reflecting positive market reaction to the deepening AI collaboration.