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重磅！谷歌母公司Alphabet豪掷千亿押注AI云，中国出海企业准备好了吗？
业绩超预期背后，是机遇还是挑战？雨生云计算独家解读，助力CXO决策！
各位出海的伙伴们，大家好！
今天，雨生云计算要跟大家聊聊谷歌母公司Alphabet的最新动向。北京时间7月23日晚间，Alphabet发布了第二季度财报，数据那叫一个亮眼，营收利润双双超出华尔街预期。
但是！
最让人震惊的，是Alphabet宣布大幅增加今年的资本支出计划，直接飙升到850亿美元，而且预计明年还会继续增加！这笔钱主要投向哪里？当然是炙手可热的云计算和AI领域。
具体怎么回事？我们来划重点：
- 业绩喜人： Alphabet二季度营收964.3亿美元，同比增长14%，超出市场预期。其中，Google Cloud功不可没，销售额暴涨近32%。
- 重金投入： 为了满足对Cloud产品和服务的强劲需求，Alphabet决定大手笔投资，预计全年资本支出高达850亿美元，并预告明年还会继续加码。
- 押注AI： 这次资本支出的大幅增加，也反映了Alphabet在AI领域的野心。他们希望通过加大对AI基础设施的投入，来巩固自己在AI领域的领先地位。
- 竞争加剧： 面对来自亚马逊AWS和微软Azure的竞争，Google Cloud正积极通过AI产品和服务来争取更多市场份额。最近，OpenAI也宣布将Google Cloud纳入其云容量供应商名单，这对Alphabet来说无疑是个巨大的胜利。
雨生点评：
Alphabet的这份财报，既带来了惊喜，也引发了一些担忧。一方面，业绩超预期表明Alphabet的业务基本面依然强劲，尤其是在云计算和AI领域，展现出了巨大的增长潜力。
但另一方面，大幅增加的资本支出，也给Alphabet的盈利能力带来了一定的压力。尤其是在竞争激烈的市场环境下，如何尽快将这些投资转化为实际收益，是Alphabet面临的重要挑战。
对中国出海企业的启示？
Alphabet的战略调整，也给中国出海企业带来了重要的启示：
- 拥抱云计算： 云计算已经成为企业数字化转型的关键基础设施。出海企业需要积极拥抱云计算，利用云计算的弹性、可扩展性和安全性，来提升自身的运营效率和创新能力。
- All in AI： AI正在深刻地改变各行各业。出海企业需要积极探索AI的应用场景，利用AI来提升产品和服务的智能化水平，从而在激烈的市场竞争中脱颖而出。
- 关注竞争格局： 随着越来越多的企业涌入云计算和AI领域，市场竞争将更加激烈。出海企业需要密切关注市场动态，及时调整自身战略，才能在竞争中立于不败之地。
那么，面对Alphabet的强势出击，中国出海企业应该如何应对？欢迎在评论区留言，分享你的看法！
以下为原文中英文对照翻译稿件：
Title: Google parent Alphabet surprises with capital spending boost after earnings beat
标题： 谷歌母公司Alphabet业绩超预期，意外宣布增加资本支出
Source: MarketScreener (https://share.google/w3mSV2LovBwj7FGQV)
原链接：https://share.google/w3mSV2LovBwj7FGQV
(English)
(Reuters) - Alphabet on Wednesday cited massive demand for its cloud computing services as it hiked its capital spending plans for the year to about $85 billion and predicted a further increase next year.
The search giant strongly beat Wall Street estimates for quarterly revenue and profit on the back of new AI features and a steady digital advertising market.
Revenue growth was driven by Google Cloud's sales, which surged nearly 32%, well above estimates for a 26.5% increase.
"With this strong and growing demand for our Cloud products and services, we are increasing our investment in capital expenditures." CEO Sundar Pichai said in an earnings release.
Shares of the company, which have risen more than 18% since its previous earnings report in April, dipped initially in extended trading after the report before rallying as executives shared details about strong cloud demand on a call with analysts.
But investors were surprised by the planned capital spending increase.
"I don't think anyone was expecting a change to that 2025 capex guide," said Dave Wagner, portfolio manager at Aptus Capital Advisors. "Google had an amazing quarter. It was an easy beat, and it was just offset by this $10-billion increase in capex."
Capital spending is expected to increase further in 2026 due to demand and growth opportunities, Chief Financial Officer Anat Ashkenazi said on the call.
Ashkenazi added that while the pace of server deployment has improved, Alphabet continues to face more customer demand for its cloud services than it can supply.
Google had earlier pledged about $75 billion in capital spending this year, part of the more than $320 billion that Big Tech is expected to pour into building AI capabilities.
CLOUD GAINS
The rise of artificial intelligence technologies has propelled demand for cloud computing services.
Google Cloud still trails Amazon's AWS and Microsoft's Azure in total sales, but has tried to gain ground by touting AI offerings, including its in-house TPU chips that rival Nvidia's GPUs.
The business segment grew its quarter-over-quarter customer count by 28%, Pichai said on the call.
"The comprehensiveness of our AI portfolio, the breadth of our offerings, both providing our models on GPUs and TPUs for our customers, all of that has been really driving demand," he said.
In a huge win for Alphabet, ChatGPT maker OpenAI recently added Google Cloud to its list of cloud capacity suppliers, as Reuters exclusively reported in June, in a surprising collaboration between two companies that are competing head-to-head in AI. It also marked OpenAI's latest move to diversify beyond its major backer Microsoft.
The capex increase nevertheless raises concerns about Alphabet's pace of monetization and its impact on near-term profitability, Investing.com senior analyst Jesse Cohen said.
Alphabet and its peers have defended their aggressive AI spending amid rising competition from Chinese rivals and investor frustration with slower-than-expected payoffs, saying those massive investments are necessary to fuel growth and improve their products.
AI RACE
Google Search's artificial intelligence features such as AI Overviews and AI Mode are also helping the company boost engagement and tackle rising competition from chatbots such as ChatGPT that have surged in popularity.
AI Mode has grown to 100 million monthly active users just two months after Google announced the start of its large-scale rollout during its annual developer conference. Google's own ChatGPT competitor, called Gemini, has more than 450 million monthly users, Pichai said.
Google's advertising revenue, which represents about three-quarters of the tech major's overall sales, rose 10.4% to $71.34 billion in the second quarter, beating expectations for $69.47 billion, according to data from LSEG.
"Hopefully, this will damper concerns by the investment community that has been worried that products like OpenAI/ChatGPT could be having an impact on Google's Search query growth," said Dan Morgan, senior portfolio manager at Synovus Trust.
Alphabet reported total revenue of $96.43 billion for the second quarter ended June 30, compared with analysts' average estimate of about $94 billion, according to data compiled by LSEG.
The company reported profit of $2.31 per share for the period, beating estimates of $2.18 per share, according to LSEG data.
(Reporting by Deborah Sophia in Bengaluru and Kenrick Cai in San Francisco; Editing by Devika Syamnath and Rod Nickel)
By Kenrick Cai and Deborah Mary Sophia
Reuters logo
© Reuters - 2025
(Chinese)
（路透社）- Alphabet周三表示，由于对其云计算服务的巨大需求，该公司将今年的资本支出计划提高到约850亿美元，并预计明年将进一步增加。
这家搜索巨头在新的人工智能功能和稳定的数字广告市场的推动下，季度收入和利润大大超过了华尔街的预期。
收入增长得益于谷歌云的销售额，该销售额飙升近32%，远高于此前预期的26.5%。
“由于对我们的云产品和服务的强劲增长的需求，我们正在增加对资本支出的投资。”首席执行官Sundar Pichai在收益报告中表示。
该公司的股票自4月份上次发布收益报告以来已上涨超过18%，在报告发布后最初在盘后交易中下跌，随后在管理人员在与分析师的电话会议上分享有关强劲云需求的详细信息后反弹。
但投资者对计划中的资本支出增加感到惊讶。
Aptus Capital Advisors的投资组合经理Dave Wagner表示：“我认为没有人预料到2025年资本支出指南会发生变化。““谷歌度过了一个了不起的季度。这是一个轻松的胜利，但被这100亿美元的资本支出增加所抵消。”
首席财务官Anat Ashkenazi在电话会议上表示，由于需求和增长机会，预计2026年的资本支出将进一步增加。
Ashkenazi补充说，虽然服务器部署的速度有所提高，但Alphabet继续面临对其云服务的客户需求超过其供应能力的情况。
谷歌此前承诺今年将投入约750亿美元的资本支出，这是大型科技公司预计将投入超过3200亿美元用于建设人工智能能力的一部分。
云端收益
人工智能技术的兴起推动了对云计算服务的需求。
谷歌云的总销售额仍然落后于亚马逊的AWS和微软的Azure，但它一直试图通过吹捧人工智能产品来获得发展，包括其内部的TPU芯片，该芯片可与英伟达的GPU相媲美。
Pichai在电话会议上表示，该业务部门的季度环比客户数量增长了28%。
他说：“我们人工智能产品组合的全面性，我们产品的广泛性，既为我们的客户提供GPU和TPU上的模型，所有这些都在真正推动需求。”
路透社6月份独家报道称，对于Alphabet来说，一个巨大的胜利是，ChatGPT制造商OpenAI最近将谷歌云添加到其云容量供应商列表中，这是两家在人工智能领域展开正面竞争的公司之间令人惊讶的合作。这也标志着OpenAI采取了最新举措，以实现其主要支持者微软以外的多元化。
Investing.com高级分析师Jesse Cohen表示，资本支出增加仍然引起了人们对Alphabet的货币化速度及其对近期盈利能力的影响的担忧。
Alphabet及其同行为他们积极的人工智能支出进行了辩护，因为他们面临着来自中国竞争对手日益激烈的竞争以及投资者对低于预期的回报的沮丧，称这些大规模投资对于推动增长和改进他们的产品是必要的。
人工智能竞赛
谷歌搜索的人工智能功能（如AI Overviews和AI Mode）也有助于公司提高参与度，并应对来自ChatGPT等聊天机器人的日益激烈的竞争，这些聊天机器人已广受欢迎。
在谷歌宣布在其年度开发者大会上开始大规模推广后的仅仅两个月内，AI Mode的月活跃用户已增长到1亿。Pichai说，谷歌自己的ChatGPT竞争对手Gemini拥有超过4.5亿的月活跃用户。
LSEG的数据显示，谷歌的广告收入约占这家科技巨头总销售额的四分之三，第二季度增长10.4%至713.4亿美元，超过了此前预期的694.7亿美元。
Synovus Trust高级投资组合经理Dan Morgan表示：“希望这能平息投资界的一些担忧，他们一直担心OpenAI/ChatGPT等产品可能会对谷歌的搜索查询增长产生影响。”
Alphabet公布的截至6月30日的第二季度总收入为964.3亿美元，而LSEG汇编的数据显示，分析师平均预期约为940亿美元。
LSEG的数据显示，该公司当期每股盈利2.31美元，超过了此前预期的每股2.18美元。
（Deborah Sophia在班加罗尔和Kenrick Cai在旧金山报道；Devika Syamnath和Rod Nickel编辑）
作者：Kenrick Cai和Deborah Mary Sophia
路透社标志
© Reuters - 2025
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