Alphabet's Gemini Grip: The Hidden Moat

  • Gemini 2.5 Pro outperforms peers with one million-token context windows, doubling soon, embedding deeply into Search and Workspace. Subscriptions, Platforms & Devices revenue surged 19% to $10.4 billion in Q1 2025, anchoring 270 million paid memberships. Google Cloud revenue rose 28% to $12.3 billion, with operating income more than tripling to $2.2 billion YoY.