People attend a presentation by Vice President, UX, Gemini experiences and Google Assistant Jennifer Blackburn on the Gemini Live feature at the Made by Google event in Mountain View, California, U.S. August 13, 2024. REUTERS/Manuel Orbegozo/File Photo
(Reuters) - Google parent Alphabet said on Tuesday its AI investments were "paying off" as it reported a 35% surge in its cloud business and U.S. election-related spending lifted YouTube ad sales in the third quarter.
Alphabet shares rose nearly 6% in after-market trading on Tuesday. Shares of Amazon and Microsoft, the top cloud companies, were up about 1% after hours.
