Noesion Radarnoesion.ai
Market2026-10-29

Alphabet shares fell almost ten percent after its earnings call. Google said AI Mode searches earn less than traditional search ads. Search revenue rose twelve percent year over year to $63.25 billion. AI Mode adoption drove the highest query growth rate in five years. Google spent $51.4 billion on infrastructure in Q3. Net income dropped to $26.17 billion from $35 billion a year ago. Google Cloud revenue hit $24.75 billion but lacks capacity for all customers. Google now offloads some cloud workloads to third parties. It turned on ads for AI Mode searches worldwide. Google expects higher AI revenue over time. It kept its $195-205 billion 2026 capex forecast. It plans to spend significantly more in 2027.

What changed

Traditional search ads earned more per query than AI Mode.

What it unlocks

Google can now run ads alongside AI Mode searches worldwide.

  • Alphabet shares fell almost 10%
  • $63.25B search revenue, +12% YoY
  • $51.4B Q3 infrastructure spend
  • $26.17B Q3 net income

Sources

Send this to someone who needs it

Shares the story and its sources. Nothing about you.

What does this mean for your job?

This is the story as everyone gets it. Once a week we send you the version written for your role — what changed, why it matters for the work you actually do, and one thing to try. Free while we tune it.