Q3 Earnings Call: CEO Remarks Our full-stack approach to AI remains a core strength, spanning AI infrastructure, world-class research in models and tooling, and the products and platforms that bring AI to people everywhere. AI Infrastructure Our extensive and reliable infrastructure, which powers all of Google’s products, is the foundation of our stack and a key differentiator. We are scaling the most advanced chips in our data centers, including GPUs from our partner NVIDIA and our own purpose-built TPUs. We are the only company offering such a broad range of both. As announced yesterday at NVIDIA GTC, we are now shipping the new A4X Max instances powered by NVIDIA GB300 to our Cloud customers. Our TPU portfolio is led by the seventh-generation TPU, Ironwood, which will be generally available soon. We are investing heavily in TPU capacity to meet surging customer demand, and we’re excited that Anthropic recently announced plans to access up to 1 million TPUs through Google Cloud. World-Class AI Research Our models continue to set the standard. Gemini 2.5 Pro, Veo, Genie 3, and our viral sensation Nano Banana are among the best in class. Over 230 million videos have been generated using Veo 3, and more than 13 million developers have built with our generative AI models. We look forward to the release of Gemini 3 later this year. Our research leadership is driving breakthroughs in next-generation technologies. Last week, we announced that our Willow quantum chip successfully ran an algorithm 13,000 times faster than one of the world’s top supercomputers—results that are fully verifiable, paving the way for practical quantum applications. Congratulations to Michel Devoret, our chief scientist for quantum hardware, who was awarded the Nobel Prize in Physics for foundational work he did in the 1980s. This marks the third Nobel Prize awarded to current Googlers in just two years—an extraordinary achievement. Products and Platforms We are bringing AI to more people and developers than any other company. In July, we processed 980 trillion monthly tokens across our surfaces. Today, that number has grown to over 1.3 quadrillion monthly tokens—more than a 20x increase in just one year. This quarter, we made significant progress reimagining Chrome as an AI-powered browser through deep integrations with Gemini and AI Mode in Search, with more agentic capabilities on the way. In August, we unveiled the Pixel 10 series, the first devices powered by our most advanced chip designed specifically for Gemini—the Tensor G5. These are our best-reviewed devices yet. Last week, we launched Android XR, our new operating system, with Samsung’s Galaxy XR device. It introduces innovative ways to use headsets and glasses, with Gemini at the core. Google Cloud Our complete enterprise AI portfolio is driving strong growth in revenue, operating margins, and backlog. In Q3, customer demand strengthened across three key areas. As we scale, we are diversifying revenue: 13 product lines now each have an annual run rate exceeding $1 billion. We are also improving operating margins through highly differentiated products built on our own technology. This differentiation starts with our AI infrastructure. With over a decade of experience building AI accelerators, we now offer the broadest range of chips. This leadership is winning customers like HCA Healthcare, LG AI Research, and Macquarie Bank—and is why nine of the top 10 AI labs choose Google Cloud. We are also the only cloud provider offering our own leading generative AI models, including Gemini, Imagen, Veo, Chirp, and Lyria. Adoption is accelerating rapidly—revenue from products built on our generative AI models grew more than 200% year-over-year in Q3. Over the past 12 months, nearly 150 Google Cloud customers each processed about 1 trillion tokens with our models for diverse applications. For example, WPP has achieved up to 70% efficiency gains in campaign creation, and Swarovski has increased email open rates by 17% and accelerated campaign localization by 10 times. Earlier this month, we launched Gemini Enterprise—the new front door for AI in the workplace. It’s seeing strong adoption, with over 2 million subscribers across 700 companies. Our packaged enterprise agents are optimized for key domains, offer significant out-of-the-box value, and are built to deliver real business impact. YouTube In the living room, YouTube has remained the top platform for streaming watch time in the U.S. for over two years, according to Nielsen. Last month, YouTube made history as the first to broadcast a live NFL game—streamed live from Brazil, drawing over 19 million viewers and setting a new record for concurrent viewers on a live stream. YouTube Shorts continues to thrive. In the U.S., Shorts now generates more revenue per watch hour than traditional in-stream ads on YouTube. At Made on YouTube, we introduced a suite of AI-powered tools helping creators supercharge content creation and grow their businesses. AI is now streamlining the entire workflow—from generative video tools and smarter editing to AI-driven insights that help creators optimize their channels. We’re also expanding monetization by automatically identifying products within videos, making them more shoppable.