谷歌电话会：1850亿支出“不得不花”，确认与苹果合作，Gemini并非SaaS的“终结者”

Core Viewpoint - Google is heavily investing in AI, with projected capital expenditures reaching $175 billion to $185 billion by 2026, primarily for servers and data centers, as part of its commitment to the AI arms race [2][4][30]. Group 1: Capital Expenditure and AI Investment - The significant capital expenditure forecast for 2026 is aimed at supporting the development of Google DeepMind's advanced models and meeting the surging demand from cloud customers [6][30]. - Approximately 60% of the capital expenditure will be allocated to servers, while 40% will go towards data centers and network equipment [6][30]. - The increase in infrastructure investment is expected to lead to a substantial rise in depreciation expenses, which will exert ongoing pressure on profit margins [6][56]. Group 2: AI's Role in SaaS and Market Dynamics - In response to fears that AI could disrupt traditional software business models, Google’s CEO emphasized that Gemini serves as an "engine" for SaaS companies rather than a terminator, with 95% of the top 20 SaaS companies already utilizing Gemini [8][39]. - The Gemini App has surpassed 750 million monthly active users, indicating strong engagement and the potential for monetization through a new "agentic commerce" model [12][29]. Group 3: Partnership with Apple - Google has confirmed a significant partnership with Apple, positioning itself as the preferred cloud provider and collaborating on the development of the next-generation Apple Foundation model based on Gemini technology [9][10][39]. Group 4: Cloud Business and AI Infrastructure - Google Cloud's revenue grew by 48%, driven by strong demand for AI infrastructure, with a notable increase in new customer acquisition and larger customer commitments [19][36]. - The company is employing a dual strategy of using both self-developed TPUs and NVIDIA GPUs to enhance its AI capabilities [19][36]. Group 5: YouTube and Advertising Growth - YouTube's advertising revenue increased by 9%, with significant growth in subscription services, particularly YouTube Music Premium [21][46]. - The platform continues to lead in streaming, with Shorts averaging over 200 billion views daily, indicating a robust engagement trend [21][46]. Group 6: Efficiency and Internal Operations - Google has achieved a 78% reduction in service unit costs for Gemini through model optimization and efficiency improvements [22][56]. - Approximately 50% of the code is now written by coding agents, allowing engineers to focus on higher-level tasks and improve operational efficiency [22][66].