Google models, cloud and compute
Google DeepMind · Gemini · Veo
Google models, cloud and compute · US
Alphabet
Google DeepMind develops Gemini within the Google and Alphabet group. Research, cloud model distribution and end-user products sit within a much larger business.
$402.8bn
15.1% versus the previous fiscal year. Consolidated revenue, not AI-only sales.
$17.7bn
Quarterly observation, not annual. Google Cloud includes non-AI cloud services; this is not Gemini revenue.
Products and position
Model developmentCloud & distributionAI applications
REPORTED COMPANY RESULTS
The business over time
$402.8bnRevenue · FY 2025 · consolidated company
Loading chartFOLLOW THE BUSINESS MODEL
Where the demand becomes revenue
Reported data-center and cloud segments, placed inside their own company totals
Alphabet / Google
Enterprise cloud, AI infrastructure and solutions$17.7bnGoogle Cloud revenue · Q4 2025
15.5% · Google Cloud$113.8bn company total
Quarterly observation, not annual. Google Cloud includes non-AI cloud services; this is not Gemini revenue.
2025-10-01 → 2025-12-31 · reported 2026-02-04Segment rounded to 0.1bn in source highlights
Each bar is 100% of that company’s own revenue in the stated period, not market share. These observations cover different fiscal periods, including one quarter; they are not ranked as comparable annual sales. Shares are derived from rounded reported amounts. No claim that the whole segment is AI-generated revenue. Reviewed 2026-10-23 · reported-business-segments-v1.
Compared with its peers
Same starting line
Revenue indexed to FY2016 = 100 · selected cloud platforms.
Loading chartRelative growth, not company size or stock returns. Fiscal-year labels align; exact reporting periods differ across companies. Peer selection is editorial, not an exhaustive industry ranking.
Earnings and cash tell different stories
Both expressed as a share of Alphabet revenue in the same fiscal year.
Loading chartOperating cash flow is not free cash flow; capital expenditure is not deducted here. Missing observations remain gaps.
How much goes into research?
Reported R&D / company revenue · FY2025
Loading chartAll reported company R&D, not AI-only spending. Accounting definitions can differ; no compatible record is not zero expenditure.
SEC figures are Alphabet consolidated totals. They do not measure Gemini revenue or Google DeepMind's standalone performance. Reported growth does not isolate the causal contribution of AI. R&D is all company R&D, not AI-only investment or capital expenditure.
