Why Alphabet Stock Rose Today

Alphabet Inc. GOOG GOOGL shares traded higher Tuesday amid announcements from the Google Cloud Next conference.

What To Know: Google Cloud is gearing up for the first in-person Google Cloud Next event since 2019, hosted in San Francisco. The event follows an eventful year, with second-quarter achievements such as $32 billion annual revenue run rate and collaborations with prominent organizations such as John Lewis Partnership, U.S. Steel, and Mayo Clinic.

Thousands of customers and partners will join at Google Cloud Next to witness Google Cloud's latest advancements in the areas of Infrastructure, Data and AI, Workspace Collaboration, and Cybersecurity solutions. The company says the innovations are aimed at helping "every business, government, and user benefit from generative AI and leading cloud technologies."

Among the prominent topics to be featured at the conference include Google Cloud's advanced AI-optimized infrastructure, which makes generative AI possible.

Also showcased will be Vertex AI, an AI platform with the capabilities to build, deploy and scale machine learning (ML) models, and Duet AI which was released in May and offers new features across Workspace and developer features in Google Cloud.

Other important announcements will be made at the conference pertaining to Developer Tools, Data, Security, Sustainability, and the cloud ecosystem.

Related Link: HP Stock Falls After Hours Due To FY23 EPS Guidance Issued Below Estimates

GOOG Price Action: Shares of GOOG were up 0.07% at $135.59 in the after-hours session at the time of publication, according to Benzinga Pro.

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