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Google Cloud stands out at Alphabet (GOOGL), and it may be what Alphabet bulls are betting on. You probably think of Alphabet as a search advertising company, but Cloud is growing much faster than Search. Yet the stock lost 1.2% over the six months to October 21, 2026, while the S&P 500 gained 9.3%. That is the contradiction: the business looks better than the share price suggests. So how large a business is Google Cloud today?

Google Cloud Now Brings In $24.8 Billion A Quarter

Google Cloud brought in $24.8 billion of revenue in the second quarter of fiscal 2026, up 82% from a year earlier. By contrast, revenue from Google Search and other…