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🚨 GOOGLE SAYS QUANTUM TECH IS JUST 5 YEARS AWAY FROM REAL-WORLD IMPACT
Julian Kelly, Director of Hardware at Google Quantum AI: "We think we're about five years out from a real breakout... a practical application that you can only solve on a quantum computer." Following Google’s December breakthrough in quantum error correction, momentum is building fast. These supercomputers could soon tackle physics problems and generate data beyond the reach of today’s machines. Quantum computing is no longer a far-off dream — it’s becoming a near-term reality. Source: CNBC thru Mario Nawfal
BREAKING: Google Trends interest about bitcoin are currently at their highest level since 2021.
Worldwide searches for the Bitcoin have doubled over the last several weeks. However, search interest is still below the December 2017 peak and spikes seen in 2019 and 2021. Since November 1st, Bitcoin prices have surged 42.5% and are trading near $100,000. Source: The Kobeissi Letter
Google is slowly losing ground in search ads - by Chartr
While Google’s latest woes seem to center on the DOJ’s antitrust efforts, the search-engine giant may soon face another — perhaps even greater — threat to its moat: losing its dominance in search ads. In 2023, Google earned over $175 billion (or 57% of Alphabet’s total sales) solely from search advertising. However, Google is gradually losing ground in the $300 billion-strong global market for search ads, as both users and advertisers shift to competitors like Amazon and AI tools, The Wall Street Journal reports. According to data from eMarketer, Google’s share of the search-advertising market is forecast to drop below 50% next year for the first time since tracking began in 2008, with revenue growing at a modest 7.6% year over year. Meanwhile, Amazon’s search-ad revenue surged by 17.6% over the same period. Indeed, users are increasingly turning to platforms like Amazon or TikTok for their shopping searches and general queries, according to WSJ. The seemingly inevitable rise of AI is also playing a role: a survey from New Street Research found that nearly 60% of US consumers used a chatbot to help them decide on a purchase in the past 30 days. Source: Chartr, WSJ
Google parent Alphabet reported Q3 earnings, which beat on top and bottom lines.
The company’s shares rose 4% on the results. Alphabet’s revenue grew 15% year over year, which is stronger than the same quarter last year. The company reported blow-out cloud revenue at $11.35 billion — up nearly 35% from the $8.41 billion a year ago. The company attributed its strong cloud results to their AI offerings, which includes subscriptions for enterprise customers. $GOOG Alphabet Q3 FY24: • Revenue +15% Y/Y to $88.3B ($2.0B beat). • Operating margin 32% (+4pp Y/Y). • EPS $2.12 ($0.27 beat). Google Cloud: • Revenue +35% Y/Y to $11.4B. • Operating margin 17% (+14pp Y/Y). YouTube ads +12% to $8.9B. Source: App Economy Insights
Google $GOOGL will back the construction of 7 small nuclear power reactors in the US, a first-of-its kind deal
Under the deal’s terms, Google committed to buying power generated by seven reactors to be built by nuclear-energy startup Kairos Power. The agreement targets adding 500 megawatts of nuclear power starting at the end of the decade (Source WSJ)
$GOOGL's share of the U.S. search ad market is expected to drop below 50% next year for the first time in over a decade, according to eMarketer.
TikTok is already targeting ads based on search queries, and AI startup Perplexity, backed by Jeff Bezos, is planning to roll out ads soon. Meanwhile, Amazon, with a 22.3% share, continues to grow fast. The competition is heating up... Source: WSJ thru Wall Street Engine
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