GOOG Stock Stands to Gain from Google Cloud Push
Buz Investors Google Stock Alphabet Inc (NASDAQ:GOOG, GOOGL) stock has been on an upward trend for a while now, and GOOG stock ended the last trading session at $835.37.
Alphabet, otherwise known as Google, has grabbed attention over the past few weeks as the newer social media company Snap Inc (NYSE:SNAP) turned out to be a big customer of the Google’s cloud business. But the surprise does not end there. At its ongoing Google Cloud Next ‘17 Conference, Google announced its new partnership with SAPSE (ADR) (NYSE:SAP) and introduced new clients.
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he big announcements are expected to keep flowing as the Internet search giant hosts its conference in San Francisco this week. The most important news right now is that the company has won major clients like Verizon Communications Inc. (NYSE:VZ), eBay Inc (NASDAQ:EBAY), Walt Disney Co(NYSE:DIS), Colgate–Palmolive Company(NYSE:CL), and HSBC Holdings plc (ADR)(NYSE:HSBC) for its cloud business. (Source: “Google Cloud: enterprise technology for the Next step in computing,” Google Blog, March 8, 2017.)
Cloud computing is at the center of nearly unlimited computing power around the globe today, and Google management pegs the enterprise computing market at $1.0 trillion. Alison Wagonfeld, VP of Marketing for Google Cloud, said, “Google Cloud’s technology and approach to the market is the product of 16 years inventing, developing, and fine tuning tools for a fully connected enterprise.” (Source: Ibid.)
Google announced the acquisition of Kaggle Inc., which is home to the world’s largest community of data scientists and machine learning enthusiasts. Kaggle is used by more than 800,000 data experts to analyze and understand the latest updates in machine learning and data analytics.
Fei-Fei Li, Chief Scientist, Google Cloud AI and Machine Learning, welcomed Kaggle to Google Cloud and stated that it was the best place to search and analyze public datasets, build machine learning models, and enhance one’s data science expertise. (Source: “Welcome Kaggle to Google Cloud,” Google Cloud Platform Blog, March 8, 2017.)