![]() We’re going to call that Reason #1 for my contention that the $5.6-billion loss is great news for Google Cloud: 2-year revenue up 124%, loss up only 29%.įrom Q3 to Q4, Google Cloud’s backlog exploded from $19 billion to $30 billion, said Alphabet CEO Sundar Pichai on the Feb. So: in the 2 years since Thomas Kurian has been CEO of Google Cloud and investment in the company has surged, revenue is up 124% but the loss is up only 29%. ![]() But over that same 2-year period, Google Cloud’s loss widened by only 29%, from $4.35 billion to $5.61 billion. If we compare full-year results for 20, we see that revenue increased 124% over that 2-year period from $5.84 billion to $13.01 billion. 2 earnings press release (slide #1) in which I’ve highlighted the data specific to Google Cloud. ![]() ![]() Look at the financial table below from Alphabet’s Feb. the financial discipline that is no doubt accompanying Google Cloud’s rapid ascent is bending the cost curve downward consistently and impressively.the market Google Cloud is pursuing is enormous-surely many hundreds of billions of dollars, and perhaps into the trillions of dollars and.Google Cloud has become the world’s fastest-growing major cloud company, and its rate of growth has actually begun to accelerate even as its business gets larger.parent company Alphabet sees the enormous potential of Google Cloud under Thomas Kurian and is investing accordingly.But that’s why this disclosure has to be seen in its proper context: “Through our co-innovation with Google Cloud, we have built and quickly scaled cutting-edge digital services for our clients with security at the core,” said Amy Brady, chief information officer, Ke圜orp.Now, I’m not advocating that Google or any company make a habit of losing $5.6 billion on every $13.1 billion in revenue. Kurian said Google Cloud technologies, data, infrastructure, and machine learning can help KeyBank “embrace the benefits of the cloud and create compelling experiences for new and existing users.” “We’ve enjoyed a long-standing relationship with KeyBank, and this expansion will evolve how the bank serves its clients,” said Thomas Kurian, CEO, Google Cloud. KeyBank was also an “early adopter” of Anthos, multicloud and hybrid cloud management software, and Kubernetes, open-source container management software, to power its digital properties and apps. KeyBank launched its digital health care-focused bank, Laurel Road for Doctors, on Google Cloud last spring. The expanded partnership builds on KeyBank’s relationship with Google Cloud. For example, KeyBank will use Google Cloud’s conversational AI virtual agent, Contact Center AI, to provide more natural and accurate interactions to solve client needs, such as feeding call center agents information about a customer’s pending charges and a specific FAQ before they are connected. KeyBank will use Google Cloud’s advanced data solutions and artificial intelligence (AI) technologies to enhance the bank’s client-first approach with more flexible, personalized digital banking experiences. The effort is expected to enable the rapid launch of products and advance new capabilities, including fraud prevention, machine learning (ML), data analytics, and anti-money laundering. KeyBank will migrate its infrastructure to Google Cloud beginning this year and eventually move the majority of its products and services to the cloud by 2025.ĭeloitte, KeyBank’s systems integrator, will help facilitate and optimize KeyBank’s migration from data centers to Google Cloud. The setup is intended to allow the financial institution to transform the way it develops, operationalizes, and delivers digital experiences to clients, partners, and teammates, with “security at its core.” to operate its primary platforms and applications on Google Cloud infrastructure. Under the partnership, KeyBank will become one of the largest regional banks in the U.S. KeyBank entered an expanded, multi-year strategic partnership with Google Cloud, according to Google Cloud this month. and CLEVELAND - KeyBank is partnering with Google Cloud to accelerate its commitment to “cloud-first” banking. ![]()
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