If AI Is Doing 75% of Google's New Coding, the Stock Might Be Underpriced

Alphabet (GOOG.OQ) climbed after a strong quarter — Google Cloud revenue surged 63% to over $20 billion and net income rose sharply — prompting an after‑hours rally (~7%). CEO Sundar Pichai said 75% of new Google code is now AI‑generated, a milestone the author argues could accelerate productivity, margin expansion and enterprise adoption of Google’s Gemini agent platform. Waymo’s >500,000 weekly autonomous rides and ongoing TPU advances reinforce the company’s leadership case versus peers (notably NVIDIA). Despite a trailing P/E north of 32 and heavy CapEx (~$190B), the piece takes a bullish view that the stock may still be underpriced given accelerating AI-driven revenue and profitability trends.