10月28日：Alphabet周三报告的现金消耗高于分析师预期，因其大举投入以提升云业务产能，导致其股价在盘后交易中下跌逾6%。
Oct 28 : Alphabet reported a higher cash burn on Wednesday than analysts expected as it spends heavily to boost capacity for its cloud business, sending its shares down more than 6 per cent in extended trading.
根据LSEG汇编的数据，该公司报告的自由现金流为负90.7亿美元，而分析师预估的现金消耗为3600万美元。
The company reported negative free cash flow of $9.07 billion, compared with analysts' estimate of a cash burn of $36 million, according to data compiled by LSEG.
截至9月的第三季度，Google Cloud营收翻倍多，达到307.1亿美元，而分析师平均预估为增长95.1%至295.7亿美元。
Revenue at Google Cloud more than doubled to $30.71 billion in the third quarter ended September, compared with analysts' average estimate of a 95.1 per cent increase to $29.57 billion.
作为全球第三大云服务提供商，仅次于Amazon Web Services和微软Azure，Google Cloud持续扩大企业客户承诺，这得益于网络安全、零售和金融服务领域的多年期云及AI基础设施交易。
The third-largest cloud services provider globally, behind Amazon Web Services and Microsoft's Azure, has continued to expand enterprise commitments, supported by multi-year cloud and AI infrastructure deals across cybersecurity, retail and financial services.
这些结果凸显了Alphabet作为企业AI支出激增主要受益者的地位，缓解了投资者对巨额算力资本支出可能超过近期营收增益的担忧。
The results underscore Alphabet's position as the primary beneficiary of surging enterprise AI spending, easing investor concerns that heavy capital expenditures on computing capacity might outpace near-term revenue gains.
全年企业对基于云的AI训练和推理需求保持强劲，使数据中心利用率维持高位，并推动主要云服务商加速基础设施部署。
Enterprise appetite for cloud-based AI training and inferencing has remained strong through the year, keeping data center utilization high and pushing major cloud providers to accelerate infrastructure deployment.
预计Alphabet、微软、亚马逊和Meta将在2026年共同投入远超7000亿美元，以扩大AI数据中心规模、芯片及高性能网络产能。
Alphabet, Microsoft, Amazon, and Meta are projected to collectively spend well over $700 billion in 2026 to expand AI data-center footprint, chips and high-performance networking capacity.
在超大规模云服务商面临不同程度产能约束之际，Google Cloud的超预期表现使Alphabet有利地位，可在企业将AI工作负载迁移至云端的过程中夺取市场份额。
Google Cloud's outperformance comes as hyperscalers navigate varying degrees of capacity constraints, positioning Alphabet well to capture market share among enterprises migrating AI workloads to the cloud.
尽管全行业先进硅芯片和数据中心电力的供应瓶颈持续存在，但Alphabet在自研张量处理单元（TPU）与第三方GPU上的投资，有助于扩展其服务交付能力。
While industry-wide supply bottlenecks for advanced silicon and data-center power have persisted, Alphabet's investments in custom tensor processing units alongside third-party GPUs have helped expand its service delivery capabilities.
Alphabet 的专有 AI 计划也提供了助力，在报告季度内，其 Gemini 模型套件在企业软件和开发者平台上的采用范围不断扩大。
Alphabet's proprietary AI initiatives also provided a tailwind and adoption of its Gemini model suite broadened across enterprise software and developer platforms in the reported quarter.
该公司与 Apple 生态系统的集成，为基于云端的 AI 能力提供支持，持续助力 Alphabet 扩大其更广泛的生态系统触达范围。
The company's integration with Apple's ecosystem to power cloud-based AI capabilities has continued to support Alphabet's wider ecosystem reach.