Alphabet's TPU Sales Could Drive Significant Google Cloud Upside, Oppenheimer Says

MT Newswires Live

59 mins ago

Alphabet's (GOOG, GOOGL) tensor processing unit opportunity could drive substantial upside to Google Cloud revenue and earnings through 2028, Oppenheimer said in a report emailed Thursday.

The firm forecasts about 6.6 gigawatts of external TPU sales through 2028, representing roughly $170 billion in "cumulative incremental" revenue that is not reflected in current Wall Street estimates. The projections imply Google Cloud revenue could be 15% above consensus in 2027 and 30% above in 2028, with "consolidated" earnings per share potentially 4% and 18% above consensus, respectively, according to the report.

Oppenheimer raised Google Cloud revenue estimates to $120.4 billion for 2026, $203 billion for 2027 and $322.7 billion for 2028. Google Cloud operating profit was projected at $39.9 billion, $68.5 billion and $117.1 billion, respectively, according to the report.

The firm also said an artificial intelligence survey showed Google remains "in lead position" with consumers. Gemini ranked as the second-most-used AI service behind Microsoft-backed (MSFT) OpenAI's ChatGPT, while respondents were about four times more likely to trust Google than Meta Platforms (META) "with passwords," a potentially important advantage for AI-driven commerce.

Oppenheimer reiterated an outperform rating on Alphabet with a price target of $400.

Price: 330.35, Change: -0.30, Percent Change: -0.09

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Gemini ranked as the second-most-used AI service behind Microsoft-backed (MSFT) OpenAI's ChatGPT, while respondents were about four times more likely to trust Google than Meta Platforms (META) \"with passwords,\" a potentially important advantage for AI-driven commerce.Oppenheimer reiterated an outperform rating on Alphabet with a price target of $400.Price: 330.35, Change: -0.30, Percent Change: -0.09","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}