Alphabet raised its 2026 investment forecast to between $195 billion and $205 billion, up from the previous range of $180 billion to $190 billion, as demand continues to outpace investment. Google reported revenue of $119.8 billion for the second quarter of 2026, a 24 percent increase year over year that beat analysts' expectations of $116.9 billion. Google Cloud grew 82 percent to $24.8 billion, and the Services segment rose 15 percent to $94.5 billion. The Gemini app now has 950 million monthly active users, up from 750 million in February. AI Mode in Google Search has crossed one billion monthly active users since its global launch in October. AI Max has left beta and already has 500,000 advertisers using it. CEO Sundar Pichai acknowledged Google needs a more capable base model to catch up with leaders, stating the next generation of frontier AI models requires "much larger base models." Google is training Gemini 4 to meet that bar, with Pichai saying, "We have started our most ambitious pre-training run yet for Gemini 4." He also noted areas needing improvement, including coding and agentic coding.