Alphabet Has $514 Billion in Cloud Orders. Here’s What Matters More Than That Number on Oct. 28.

Alphabet (NASDAQ:GOOGL)(NASDAQ:GOOG) has turned heads with one particular number in recent months: $514 billion. That's the size of the Google Cloud backlog, or the value of customer contracts Alphabet has signed but hasn't yet turned into revenue. This enormous number shows just how hungry businesses are for artificial intelligence (AI) computing power. But when the tech powerhouse reports third-quarter earnings after the market closes on Oct. 28, I'd argue that other figures will matter more. Let's dive in for a close look. Image source: Getty Images.

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