Alphabet: Search dominance, AI disruption, and the future of attention
Google Cloud revenue rose 34% to $15.2B in Q3 2025 as operating margin hit 23.7%, and a $155B backlog signaled demand while TPUs lowered costs.
34 min read
Unpacked
Sunday deep dive on current and historical events shaping markets and the economy.
Alphabet: Search dominance, AI disruption, and the future of attention
Google Cloud revenue rose 34% to $15.2B in Q3 2025 as operating margin reached 23.7%, and backlog hit $155B.
34 min read
Alphabet: Search dominance, AI disruption, and the future of attention
Google Cloud revenue rose 34% to $15.2B in Q3 2025 as operating margin hit 23.7% and backlog reached $155B, reflecting Alphabet's TPU cost advantage.
34 min read
Alphabet: Search dominance, AI disruption, and the future of attention
Google Cloud revenue rose 34% to $15.2B in Q3 2025, with margins at 23.7%. Backlog reached $155B, up 82%.
34 min read
China’s Structural Slowdown: Real estate, debt & demographic drag
In Q3 2025, Services delivered $87.1B as Search grew 15% to $56.6B and Google Cloud climbed 34% to $15.2B with 23.7% margins.
34 min read
The Next Commodity Supercycle: What drives it and who wins
Top miners cut capex from $145.7B in 2013 to $109.2B in 2023.
34 min read
Nvidia: The anatomy of a once-in-a-generation company
This report analyzes Nvidia's competitive advantages and financial engine to evaluate the core drivers of this once in a generation company.
2 min read
