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Odaily reports: Alphabet says demand for its cloud services is growing rapidly, as reflected in the increase in its "backlog" (i.e., cloud service contracts not yet fulfilled). However, more than one-third of that quarterly growth came from a joint venture in which the company holds a stake. This disclosure appeared in a quarterly filing submitted on Thursday. The filing outlines the AI-related risks Alphabet faces, which extend beyond what the company discussed on its earnings call the previous day. In addition to the more than $1 trillion in purchase commitments, future lease payments, and other obligations disclosed by the chief financial officer on the investor call, the filing also lists approximately $98.5 billion in contingent commitments—obligations the company may need to assume under certain conditions. That amount is up about $23 billion from the previous quarter. These commitments include guaranteeing data center lease payments, supporting partners in procuring power equipment, and, under specific circumstances, potentially repurchasing AI chip systems from customers. (Bloomberg)
Intel Corporation's second-quarter revenue was $16.13 billion, up 25% year-over-year, compared to estimates of $14.43 billion. Second-quarter Data Center and AI revenue was $6.26 billion, surpassing analyst estimates of $5.54 billion. Second-quarter adjusted earnings per share (EPS) was $0.42, exceeding analyst estimates of $0.21. The company expects third-quarter revenue between $15.8 billion and $16.8 billion, compared to analyst estimates of $15.06 billion. The company anticipates third-quarter adjusted EPS of $0.38, exceeding analyst estimates of $0.27. (Wall Street CN)According to MSX.COM data, Intel shares surged in after-hours trading, rising as much as 13% before gains narrowed to 3%.