Alphabet Inc. (NASDAQ:GOOGL) is one of the Top Technology Stocks to Buy According to Hedge Funds. On August 22, Reuters reported that Alphabet Inc. (NASDAQ:GOOGL)’s robotaxi unit Waymo received its first permit to start testing its autonomous vehicles in New York City with a trained specialist, helping advance the self-driving ambitions. Notably, Waymo can now start testing a limited number of its self-driving cars in parts of Manhattan and Downtown Brooklyn, as highlighted by Reuters while quoting New York City Mayor Eric Adams and Department of Transportation Commissioner Ydanis Rodriguez. The firm further reported that Waymo has accelerated its efforts to scale operations in the US, as the robotaxi race heats up.
Alphabet Inc. (NASDAQ:GOOGL) released its Q2 2025 financial results, with Google Cloud revenues rising 32% to $13.6 billion, led by growth in Google Cloud Platform (GCP) throughout core GCP products, AI Infrastructure, and Generative AI Solutions. Alphabet Inc. (NASDAQ:GOOGL)’s total operating income rose 14% and its operating margin came in at 32.4%. Notably, the operating margin benefited from healthy revenue growth and continued efficiencies in the expense base.
GreensKeeper Asset Management, an investment management company, released its Q2 2025 investor letter. Here is what the fund said:
“Our second-best performer in the quarter was Alphabet Inc. (NASDAQ:GOOGL) +13.5%. During the quarter, Alphabet hosted its annual developer conference, highlighting its advancements in AI tools across its product suite. Google’s AI Overview product continues to gain traction with over 1.5 billion monthly users, and its direct ChatGPT competitor, Gemini, is now used by more than 400 million people each month. Recent updates have reinstated the company’s models to the top of the AI power rankings. Importantly for shareholders, AI Overviews have been increasing the total number of queries at Google, which the company is monetizing at a similar rate to traditional search. Google’s business fundamentals remain healthy, with operating earnings growing 20 % in Q1.”
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Disclosure: None. This article is originally published at Insider Monkey.
