Google I/O 2026: As Google Cloud goes revenue-heavy, investors glued
Cloud has become one of Alphabet’s strongest pillars. It grew 63% year-over-year in the first quarter, outpacing both Azure and AWS. Cloud backlog hit $462 billion, up roughly 90% quarter-over-quarter, with half expected to be recognized over the next 24 months. Gen AI product revenue grew roughly 800% year-over-year. Investors are likely to be looking at it and the most consequential I/O announcements may come from cloud and infrastructure.