Citi Lifts Target to $405, Sees 57.5% Cloud Growth for Alphabet
Alphabet sees AI and cloud momentum as Citi raises its price target to $405, forecasting 16.5% search and 57.5% cloud revenue growth, while DeepMind rolls out Gemini Robotics-ER 1.6 API for improved spatial awareness and object detection. Aptoide has sued Google for alleged Android app distribution monopoly, seeking injunction and triple damages.
1. Citi Boosts Price Target on AI and Cloud Growth
Citi placed Alphabet on a 90-day catalyst watch and raised its price target to $405, citing stronger-than-expected AI-driven search revenue growth of 16.5% year over year and a 57.5% surge in cloud sales. The firm highlighted upcoming events like Google I/O and Cloud Next as potential catalysts for further investor interest.
2. DeepMind Releases Gemini Robotics-ER 1.6
DeepMind has made its Gemini Robotics-ER 1.6 model available via API and AI Studio for developers, focusing on enhanced spatial awareness, object detection, and movement tracking. The upgrade enables robots to assess task failures and decide whether to retry or move on, advancing Alphabet’s push into industrial and service robotics.
3. Aptoide Files Antitrust Lawsuit Against Google
Portuguese app store Aptoide has sued Google in federal court, alleging it monopolizes Android app distribution and billing through anticompetitive practices. The complaint seeks an injunction to end exclusivity agreements and unspecified triple damages for harm caused to alternative app stores and developers.
4. Waymo Begins Robotaxi Testing in London
Waymo has started autonomous testing of Jaguar I-Pace robotaxis on London’s public roads with safety drivers, aiming for a commercial launch later in the year. The company is building local infrastructure by hiring staff and working with emergency services as it prepares for a driverless rollout once regulatory approvals are secured.