Zhongshan Securities raises the target price for Google's parent company Alphabet, optimistic about its monetization potential in AI and cloud business.

ChainCatcher news,招商证券国际 published a research report pointing out that Google Cloud, a subsidiary of Alphabet, recently acquired a NATO AI cloud contract to provide a dedicated secure cloud system to ensure that sensitive data is only accessed domestically. At the same time, AI will be used to assist NATO in data analysis and improve operational efficiency. Additionally, reports indicate that Google is vying for Meta's multi-billion dollar TPU orders. These latest developments demonstrate that Google is committed to capturing market opportunities, and it is believed that its leadership in AI is solid, which may alleviate investors' concerns about competition. The firm continues to believe that tech giants like Google are in a favorable position for sustainable development in AI, and looks forward to seeing Google expand its business beyond search advertising or release significant unrecognized valuation potential in cloud, autonomous driving, and AI+SAAS fields. They reiterated a “buy” rating for Alphabet, raising the target price from $360 to $390. (Jin10)