Google Cloud topped $20B in quarterly revenue for the first time, fueled by surging demand for AI. But capacity constraints mean it could have grown even faster.

Alphabet reported first-quarter earnings, posting booming cloud revenue and upping its full-year capex spend to as much as $190 billion.

Google Cloud topped $20B in quarterly revenue for the first time, fueled by surging demand for AI. But capacity constraints mean it could have grown even faster.