Alphabet (GOOGL) Stock Rises to $1,524.87 as Google Cloud Buys Cornerstone Technology

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by Jeff Fawkes · 4 min read
Alphabet (GOOGL) Stock Rises to $1,524.87 as Google Cloud Buys Cornerstone Technology
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While Google Cloud is buying Cornerstone Technology and expanding profits, the eyes of investors are aimed at the Alphabet (GOOGL) stock price and tech giant’s financial reports.

Google Cloud buys Cornerstone Technology company to boost the development of cloud computing, AI and similar tech. CEO Google Cloud Thomas Kurian is very happy with the announcement, as Microsoft Corporation (NASDAQ: MSFT) and Amazon.com Inc. (NASDAQ: AMZN) kept their upholstered offers ready. Now, Alphabet Inc. (NASDAQ: GOOGL) stock may rise in price, keeping the investors ready for fast moves.

Howard Weale, Director of the transformation at Google Cloud, stated:

“Cornerstone experience and innovative solutions to our portfolio of products and services that help customers modernize their infrastructure and applications. Their capabilities will form the cornerstone of our mainframe-to-Google Cloud Platform solutions, and customers are able to take advantage of these new capabilities now through our professional services organization and our partner network”

The company will perform the migration of the Cornerstone client’s workloads to the mainframe of Google Cloud. In the company’s blog post, they stress that cloud computing is a good technical solution and a means of modernization. However, the classic mainframe in most companies is too slow compared to what Google can do.

The exact sum of the deal is still unknown.

Google Cloud Makes Huge Profits, Chasing YouTube Ads

During 2019, Google Cloud has earned $8,92 billion for Google, with a $2,61 billion in the Q4 2019. Cloud service brings in twice more profits than it did in 2018, and twice less than YouTube ads generate over the same yearly period.

The cloud market is booming industry and thousands of services, companies and verified developers use cloud computing. Google Cloud is chasing YouTube in terms of revenues. It supports data storage, AI, science, business, third party software administration and so on.

Even messengers like Telegram or Signal and bitcoin wallets like Electrum rely on cloud servers. In operations, they provide both encryption and user anonymity.

European Virtual Regulations May Hit Alphabet (GOOGL) Stock

Facebook Inc. (NASDAQ: FB) just got a few hits from the U.S. regulators regarding Libra and Cambridge Analytica. Amazon suffers from much smaller reputation loss after Jeff Bezos related private data exposure. And Google‘s Alphabet Inc. always had privacy-related issues. However, the big firms will have to obey a new strategic White Paper now. It could eliminate a hefty of technologies and business models in favor of privacy. The set of laws was made public by Thierry Breton.

Breton thinks that it’s time to put a harsh stop to the corporations feeding their supercomputers with personal data:

“Our society is generating a huge wave of industrial and public data, which will transform the way we produce, consume and live. Europe has everything it takes to lead the ‘big data’ race, and preserve its technological sovereignty, industrial leadership and economic competitiveness to the benefit of European consumers”

Per Breton, strict data regulations will allow small people to feel more secure. Also, it’s a big step to a ‘democratic society’ and ‘economic growth’ for the society of Europe.

Regarding AI, big data, personal security, and many other concerns, the European officials have opened many debates. For instance, whether it is ethical to use facial recognition apps to allow remote user identification? How to properly reuse data? What to report to the government? What business strategies exist for corporations and governments?

The European hubs will regulate data, health, mobility, industrial manufacturing, and green deals. Per the white paper, the researchers must think about implementing AI everywhere. Such systems will monitor public transport, health, with guaranteed trusted public oversight.

The final regulatory draft bill will be ready by the end of 2020. It’s a document with a big set of improvements, putting big Chinese and American corporations in front of new rules. 

Artificial Intelligence, Business News, Cloud Computing, Deals News, Market News
Jeff Fawkes
Author Jeff Fawkes

Jeff Fawkes is a seasoned investment professional and a crypto analyst. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.

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