Q2 2026 earnings call: Remarks from our CEO

Next, Cloud. Our continued momentum is driven by our integrated AI portfolio consisting of chips, models, data, security, and agent platforms - all designed to work together. Gemini continues to be a key driver of growth, and is deeply integrated across all of our Cloud products including Gemini Enterprise, data analytics, cybersecurity, and Google Workspace.

We are seeing strong, diversified demand across products, customers, geographies, and industries. Our product differentiation is driving expansion in three ways:

• We're winning new customers, more than doubling our acquisition velocity year-over-year.
• We're deepening our relationships with existing customers, who are expanding their usage and exceeding their commitments by more than 50% - also an acceleration over last quarter.
• We're driving growth with partners, with transactions on Google Cloud Marketplace growing over seven times year-over-year.

One of the strongest parts of our growth comes from the rapid adoption of our Gemini Enterprise platform. It is differentiated with easy-to-use tools to build agents and automate processes, connectivity to enterprise systems, cost management, and governance tools. In Q2, Agent Development Kit, our framework for building and deploying enterprise AI agents, reached nearly 70 million total downloads.

As I said, nearly 90% of the Fortune 100 are using Gemini Enterprise. We have customers like PepsiCo for AI and analytics solutions, Intel to streamline core processes, HSBC for wealth management, Bell Canada for customer engagement, Macy's for commerce experiences, and SIGNAL IDUNA for knowledge management.

More broadly, Gemini is transforming how millions of businesses use AI to build custom agents, automate processes, improve cybersecurity, manage customer relationships, streamline data analytics, and more.

All of this momentum is driving growth in our paid token usage. Nearly 500 Cloud customers have each processed more than 1 trillion tokens in the last year, and usage is so much deeper than that. Over the last 12 months, more than 2,000 enterprises consumed over 100 billion tokens.

We are also seeing strong interest in our AI-powered security platform, which is differentiated because it integrates threat intelligence, cyber-response prioritization with Wiz, AI-automated scanning, code remediation, and monitoring. Today:

• 90% of the Fortune 100 are Google Cloud Security users;
• Nearly 90% of Wiz customers are using AI-powered security features;
• And we have seen a more than 45% quarter-over-quarter increase in the number of AI workloads scanned and protected by our security platform.

Our security tools are being used to protect critical infrastructure, including financial services organizations such as Morgan Stanley; telecommunication providers such as Tell-us; healthcare organizations such as Texas Children's; software companies such as Atlassian; and several government agencies. And with our new Google AI Threat Defense, we're really excited to bring our new cyber model and CodeMender to help our customers defend against AI threats.

All of this is powered by our leading AI infrastructure. We offer the industry's broadest range of accelerators from Google and NVIDIA, including the new NVIDIA Vera Rubin platform, and TPU 8t and 8i, which deliver strong price performance. On top of this, let me mention three unique offerings:

• Our Virgo Network, which is designed to meet the needs of modern, large scale AI workloads. It allows customers to connect a million AI accelerators across multiple data center sites into a unified supercomputer.
• Our software stack has native support for JAX, PyTorch, vLLM, and SGLang, enabling workload portability across GPUs and TPUs.
• Our new agent-optimized Axion CPU provides 30% better performance per dollar compared to peer offerings.

We are seeing strong growth in demand for our AI infrastructure offerings from leading labs such as Ineffable Intelligence; next-generation AI builders including Kakao; financial services like Deutsche Börse Group; pharmaceutical companies such as Pfizer and Roche; and robotics and spatial intelligence companies such as World Labs.