Alphabet just smashed Q2 earnings with $112 billion—beating Wall Street—and AI is the big winner, fueling a 24% revenue surge and turning cloud and search ads into cash cows. Gemini’s nearing a billion users, AI-driven cloud growth is exploding, and even SpaceX investments are adding billions. Pichai says AI is reshaping the game—and the market’s buying it, with shares surging after hours.

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