Google's 52x AI Growth
Tomasz Tunguz
Google reported a 52x year-over-year increase in AI model token processing, coupled with a 78% reduction in serving costs.Summary
Google's Q4 2025 earnings call highlighted massive AI acceleration, with first-party models like Gemini now processing over 10 billion tokens per minute, marking a 52x year-over-year increase in token volume. This growth is accompanied by significant efficiency gains, as Google reduced Gemini serving unit costs by 78%, translating to a 4.5x improvement in tokens per GPU hour, surpassing recent updates from competitors. The AI boom is fueling revenue, evidenced by a 55% growth in backlog to $240 billion and Google Cloud revenue increasing 48% to $17.7 billion. To support this, Google plans unprecedented 2026 CapEx investments between $175 to $180 billion, signaling strong conviction in sustained token demand.
(Source：Tomasz Tunguz)