A massive $460B Cloud backlog indicates sustained demand that will support long-term growth despite current capacity constraints
Too little corroboration in the last 3 days to call a trend (3 articles). Watching for it to gain traction.
"Google Cloud is described as 'compute constrained,' meaning sales would have been higher had capacity been available, and the $462 billion backlog represents over ten times annual cloud revenue."
"Post expects the company to record an $80 billion benefit to Q2 operating income from the revaluation of the Anthropic stake. The 5-star analyst raised his Cloud growth estimate to 70%, citing solid demand indicators and a strong backlog that indicates at least $230 billion in revenue over the next eight quarters."
"Alphabet Inc. maintains a Strong Buy rating, driven by surging demand for Gemini Enterprise and a $460B Cloud backlog despite capacity constraints."