Інвестиції материнської компанії Google Alphabet у розмірі 346 мільярдів доларів забезпечують значний приріст її чистого прибутку — але це не має нічого спільного зі штучним інтелектом (AI)

<h1>Google Parent Alphabet's $346 Billion Investment Is Providing a Big Lift to Its Bottom Line -- but It Has Nothing to Do With Artificial Intelligence (AI)</h1>
<p>For more than three years, the rise of artificial intelligence (AI) has captured the attention and capital of investors. Analysts at PwC foresee this technology creating more than $15 trillion in global economic value by the turn of the decade.</p>
<p>While Wall Street's largest publicly traded company and the face of the <a href="https://www.fool.com/investing/stock-market/market-sectors/information-technology/ai-stocks/?utm_source=yahoo-host-full&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=6806f934-260d-4d42-b2d6-8fc6d67f2a5b">artificial intelligence</a> revolution, Nvidia, tends to get most of the glory, it's AI application companies, such as Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG), that have shone brightest of late.</p>
<p>Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. <a href="https://api.fool.com/infotron/infotrack/click?apikey=35527423-a535-4519-a07f-20014582e03e&amp;impression=11693c7f-a4f3-4e58-8247-473cdda8096e&amp;url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fa-sa-ai-boom-nvidias%3Faid%3D10891%26source%3Disaediica0000069%26ftm_cam%3Dsa-ai-boom%26ftm_veh%3Dtop_incontent_pitch_feed_yahoo%26ftm_pit%3D18914&amp;utm_source=yahoo-host-full&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=6806f934-260d-4d42-b2d6-8fc6d67f2a5b">Continue »</a></p>
<p>However, AI isn't the only reason Alphabet's earnings per share (EPS) have been climbing at a breakneck pace over the last decade. A stunning $346 billion investment into something that has absolutely nothing to do with AI has been fueling the company's bottom line.</p>
<h2>Investors have fallen head over heels for this virtual monopoly</h2>
<p>For decades, Alphabet's bread-and-butter has been its ad-based operations, headed by Google. According to data from GlobalStats, Google has <a href="https://www.fool.com/investing/2026/02/10/ai-quantum-computing-stock-billionaires-want-own/?utm_source=yahoo-host-full&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=6806f934-260d-4d42-b2d6-8fc6d67f2a5b">maintained 89% to 93% of global internet search traffic market share</a> over the trailing decade. This makes it the logical choice for businesses looking to target users with their message(s) and bolsters its ad-pricing power.</p>
<p>Furthermore, Alphabet is the parent company of streaming service YouTube, which is the second-most-visited website on the planet behind Google. The introduction of Shorts on a broad basis in 2021 provided YouTube with new ways to insert ads into streamed content.</p>
<p>But Alphabet's fastest-growing segment is its cloud infrastructure service platform, Google Cloud. Enterprise spending on cloud services was already growing by roughly 20% annually before AI became Wall Street's hottest trend. Incorporating generative AI solutions and large language model capabilities reaccelerated Google Cloud's year-over-year sales growth to 48% in the fourth quarter.</p>
<p>Although advertising is a cash-cow operating model, and Google Cloud has promising long-term potential, it's Alphabet's investment in itself that's making waves.</p>
<h2>Alphabet has repurchased $346 billion of its own stock over the last 10 years</h2>
<p>When it comes to share buybacks, Apple is king, with $841 billion in repurchases since the start of fiscal 2013. But Alphabet is no slouch, with the company registering over $346 billion in buybacks from 2016 through 2025:</p>