Alphabet's Google Cloud revealed Tuesday it has lined up about $58 billion in new revenue over the next two years as it vies to become a more central component of the tech giant's future.
CNBC's MacKenzie Sigalos joins 'Money Movers' to discuss Google's ad tech trial strategy as the company moves into an AI advertising war.
The tide seems to have turned for Alphabet (GOOG -0.35%) (GOOGL -0.31%). The parent company of Google saw its stock dip above $140 in April of this year over concerns about tariffs, antitrust cases both in the U.S. and in Europe, and rising competition for a share of the online search market from artificial intelligence (AI) startups.
A year ago, Google faced the prospect of being dismantled. Today, artificial intelligence (AI) and a new court judgment has helped it avoid this fate.
The European Commission announced this week that it's fining Google €2.95 billion (just under $3.5 billion).
European Union regulators on Friday hit Google with a 2.95 billion euro ($3.5 billion) fine for breaching the bloc's competition rules by favoring its own digital advertising services, marking the fourth such antitrust penalty for the company.
Google, now part of Alphabet (NASDAQ: GOOG), was founded in 1988 by Sergey Brin and Larry Page.
The EU on Friday slapped Google with a massive 2.95 billion euro ($3.47 billion) antitrust fine for favoring its own advertising services, despite President Donald Trump's warnings not to target US big tech.
The case comes after a US judge gave Google a light punishment for operating an illegal monopoly in online search.
Alphabet's Google was hit with a 2.95-billion-euro ($3.45 billion) EU antitrust fine on Friday for anti-competitive practices in its lucrative adtech business, marking its fourth penalty in its decade long fight with EU competition regulators.
European Union officials accused the American tech giant of using its size and dominance to undercut rivals in the online advertising market.
The bloc's antitrust regulators say the search giant may need to divest parts of its business.