Alphabet Revenue Growth Tops 20% as Cloud Backlog Jumps
Alphyn Capital Management’s Q2 2026 investor letter cites strong results for Alphabet. It reports first-quarter revenue growth of more than 20%, while Google Cloud grew over 60% with backlog nearly doubling during the quarter. The vertically integrated AI stack is described as a tailwind to core performance, and Alphabet is noted as a top hedge-fund holding contributor.