Shares in tech giant Alphabet (GOOGL) are only up about 8% year-to-date, with growth tempered by the recent selloff in the elite Magnificent Seven group. However, its Google Cloud unit on Wednesday pulled back the curtains on a raft of new AI-focused partnerships at the ongoing Google Cloud Next 2026 conference in Las Vegas.
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Forget margin or options. Here's how the pros trade NVDA- Expanded AI Collaboration with Nvidia: One of the key highlights from the summit is that Google Cloud and design giant Nvidia (NVDA) are deepening their AI partnership by introducing new AI infrastructure capabilities. This includes the A5X, Google’s latest, top-tier AI machines in the cloud that run on Nvidia’s newest GPUs and can make AI tasks up to 10 times faster and cheaper.
- New AI Agent Tools and Chips: Google Cloud also unveiled a new set of tools to help businesses automate repetitive tasks. The push could help the tech giant take on leading AI startups OpenAI and Anthropic. Google has also said it is working with semiconductor company Marvell (MRVL) to create two brand-new chips.
- Expansion of Deal with Broadcom (AVGO): Google and chipmaker Broadcom (AVGO) have also expanded their partnership by launching Cloud Network Insights, an observability service targeted at bridging the gap in traditional monitoring tools by helping engineers monitor performance from the end-user’s perspective.
- AI Infrastructure Deal with Startup: Google has reportedly signed a multi-billion-dollar deal with Thinking Machines Lab, a startup focused on developing multimodal AI systems. The arrangement is said to give the startup access to Nvidia’s GB300 Blackwell Ultra GPU platform, the step below the newly introduced Vera Rubin system.
- New AI Partnerships: Google Cloud is also introducing new AI agents for large organizations in partnership with enterprise workflow automation provider ServiceNow (NOW) and a new AI data-center network architecture called Virgo Network designed in collaboration with Arista Networks (ANET), a provider of software-controlled cloud networking products. Similarly, enterprise software company UiPath (PATH) is adding its IXP tool for processing complex documents to the Google Cloud Marketplace. In addition, beverage giant PepsiCo (PEP) has signed a multi-year deal to leverage Google’s technology to boost its IT system to address issues such as supply chain management.
- Additional AI Security: In addition, Google Cloud is offering new web application protection features in partnership with Thales (THLLY), a diversified defense and digital security technology company. It has also expanded its tie-up with cybersecurity firm Netskope (NTSK) to deliver performance and security for AI workflows. Moreover, data protection software company Commvault (CVLT) is also extending its cloud-native cyber resilience tools to Google Cloud Storage through its Clumio platform.
Is Alphabet a Good Stock Buy?
Turning to Wall Street, Alphabet’s shares remain a Moderate Buy based on analysts’ consensus rating. This breaks down to 26 Buys and five Holds assigned by 31 analysts over the past three months.
In addition, the average GOOGL price target of $387.68 implies about 14% upside from current trading levels.
