Alphabet's Google Cloud Backlog Just Hit a Record $462 Billion. Time to Buy the Stock?

Alphabet's Google Cloud division has reached a record $462 billion backlog with 63% year-over-year revenue growth, outpacing competitors AWS (28%) and Azure (40%). The company is investing heavily in data center infrastructure, with 2026 capex guidance of $180-190 billion and plans for even higher spending in 2027. This positions Alphabet for continued growth and a transformation from an advertising-focused to a more balanced cloud-driven business.