Friday, 30 October 2026

Models & Labs

Alphabet's search revenue came in below estimates for a second straight quarter

Search and other revenue grew 12% from a year ago to roughly $63 billion, below estimates for the second straight quarter. Google said search query growth was the strongest in five years, while the stock plummeted about 13% on Thursday, the steepest drop on record.

12%Search and other revenue growth from a year ago, third quarter

NoteWhile search remains a massive business, early signs of a shift are appearing, CNBC says. The gap between usage and revenue is getting harder to dismiss as AI tools draw more queries, including Google's own.

Source: CNBC·Share

Deals

Cohere makes initial close of Series E round targeting up to $7 billion Canadian dollars

Cohere announced the initial close of a Series E round targeting up to $7 billion Canadian dollars (about $5 billion), in a post that rejects what it calls frontier fatalism. Bloomberg reported that the round values Cohere at $20.5 billion, and that the Canadian government has agreed to invest up to $1.14 billion.

NoteFor banks weighing where their models come from, Cohere's pitch is a platform that lets institutions own the AI they run on, the company says.

Source: PYMNTS·Share