Google announces new chip ‘Willow’ will jump quantum computing hurdles
Google announced that its researchers have developed a new chip called Willow that has overcome a major hurdle in quantum computing.
Google’s parent company Alphabet is scheduled to announce its third quarter financial results on Wednesday, October 29th.
As ChatGPT continues to threaten the company’s business model, investors will be watching to see if the company is poised for further growth. Alphabet said this year it is investing heavily in its family of AI models, called Gemini, as well as additional products and services.
According to CNBC, analysts expect the company’s third-quarter results to “show that faster product development rates are driving momentum in search, cloud, and Waymo.” Alphabet is Waymo’s parent company.
The paper said Alphabet’s stock rose 38% in the third quarter, the company’s best quarterly performance in decades. In September, the company’s stock price rose after a judge ruled against forcing the company to sell its Chrome browser in the largest antitrust case in decades.
However, CNBC noted that the company’s growth has slowed and is expected to reach 12% in 2026. As a result, investors are changing their view of the company’s future.
Google announces Gemini Enterprise
Still, Wall Street expects the company to integrate artificial intelligence and become a contender in the space.
Earlier this month, Google announced the launch of Gemini Enterprise, an advanced AI platform for enterprises, with the goal of bringing more artificial intelligence into the workplace and growing its enterprise customers. The company announced in September that it would extend Gemini to use in Chrome, allowing users to ask questions about web pages.
The company said in a September blog post that the feature will be rolled out to Mac and Windows users in the United States.
“The browser is no longer just a window to the web; it’s an intelligent partner that learns and adapts to your needs,” said Parisa Tavris, Google vice president and general manager of Chrome.
Here’s how to listen to the call when revenue approaches.
How can I watch Alphabet’s earnings call?
Alphabet is scheduled to release its financial results after the market closes on October 29th. The conference call will take place at 5:30 p.m. ET. Investors can access both the results and conference call through the company’s Investor Relations website.
What are Wall Street’s expectations?
According to CNBC, Wall Street expects the company’s sales to rise 13% to $99.89 billion and earnings per share to be $2.26.
What did Alphabet say in its last earnings report?
When Alphabet reported its second-quarter results over the summer, its revenue and profits exceeded Wall Street expectations. But the company announced a $10 billion increase in capital spending this year, a common theme as tech companies rush to expand their AI infrastructure.
According to CNBC, the company’s stock soared 3% in after-hours trading following the report.
What is Alphabet’s stock price?
Alphabet traded in the red on Tuesday, October 28, down 0.56%.
Michelle Del Rey is a trending news reporter for USA TODAY. Please contact mdelrey@usatoday.com.
