Alphabet Chief Financial Officer Ruth Porat told analysts last week that some customers of Google’s cloud servers and productivity apps “are taking longer to decide, and some have committed to deals with shorter terms or smaller deal sizes, which we attribute to a more challenging [macroeconomic] environment.”
That was an understatement. Commitments from Google Cloud customers quintupled between the end of 2019 and the end of 2021, securities filings show. This year, they’ve hardly grown at all.
