Kwata na Dala Biliyan 44.9 na Alphabet: Darasi na Matakin Hukuma game da Horar da Jari na AI

Alphabet ta sanar da sakamakon kwata na biyu na 2026 a wannan mako, kuma lambobin da ke kan saman labari abin ban mamaki ne a fuskanci. Kudadar da ta samu dala biliyan 119.8, karin kashi 24 bisa dariya idan aka kwatanta da shekarar da ta gabata. Riba ta gaskiya dala biliyan 112.1. Kasuwancin girgije (cloud) da yake girma da kashi 82 bisa dariya. Ga shugabannin kamfanoni (CEO) da shugabannin fasaha (CTO) da ke bibiyar inda kashewar kudi na AI na kamfanoni ke zuwa da abin da take kawo wa a zahiri, wannan kwata na daya daga cikin mafi bayyanannun bayanai na wannan shekara.

Amma lambobin da ke kan saman labari ba su ne labarin ba. Labarin shi ne abin da ke karkashinsu: kamfani da ke kashe jari da saurin da 'yan kamfanoni kalilan ne kawai za su iya ci gaba da shi, tana neman cin gajiyar kayayyakin more rayuwa na AI da ta yi imanin za su kara yin riba a cikin shekaru goma masu zuwa. Wannan ita ce bangaren da kowane shugaban fasaha ya kamata ya karanta da kyau.

Me yasa wannan yake da muhimmanci yanzu

Kowane shugaban fasaha na kamfani yanzu yana yin wani nau'i na wannan yanke shawarar da Alphabet take yi a babban matakin kasuwa (hyperscale): nawa za a zuba a kayayyakin more rayuwa da dandamali na AI kafin a tabbatar da ribar da za a samu gaba daya, da kuma yadda za a gina wannan zuba jari ba tare da lalata takardar kudi (balance sheet) ba. Sakamakon kwata na biyu na 2026 na Alphabet zahiri fa nazari ne na wannan yanke shawara kai tsaye, da ake yi da girma da bayyananniyar da yawancin kamfanonin masu zaman kansu ba za su ta bayanai ba. Shugabannin kamfanoni da na fasaha da ke saita kasafin kudi na AI na watanni 12 zuwa 18 masu zuwa ya kamata su dauki wannan rahoto a matsayin ma'auni (benchmark), ba kamar labari kawai ba.

Abin da ya faru

Jimillar kudadar da Alphabet ta samu a wannan kwata ta kai dala biliyan 119.8, karin kashi 24 bisa dariya idan aka kwatanta da shekarar da ta gabata. A cewar masu nazarin kasuwa da suka binciki wannan rahoto, wannan ita ce kwata ta 12 a jere da kamfanin ya samu karin kudade da lambobi biyu. Ribar aiki (operating income) ta kai dala biliyan 40.8, karin kashi 30 bisa dariya, yayin da kudaden riba (operating margin) suka fadada daga kashi 32 zuwa kashi 34 bisa dariya. Ribar kowace hannun jari bayan rarrabawa ta kai dala 9.11.

Ribar da aka ruwaito ta gaskiya (net income) ta kai dala biliyan 112.1, karin kashi 298 bisa dariya. Yana da muhimmanci a kasance da daidaito a nan: wannan lamba ta hada da ribar da ba a tabbatar da ita ba (unrealised gain) ta dala biliyan 99 da ta shafi hannayen jari (equity securities), wanda kashi ne na lokaci daya wanda ba na aiki ba. Ma'aunin da ya fi da ma'ana don auna aikin kasuwa na ainihi shi ne ribar aiki, wadda ta karu da kashi 30 bisa dariya zuwa dala biliyan 40.8. Kowace karatu da aka yi ta wannan kwata da ta sanya lambar ribar a gaba ba tare da bayyana wannan tambaya ba, tana gabatar da hoton riba da ya wuce gaskiya, kuma shugabannin kamfanoni da na kudi masu hankali za su yi wannan gyaran lokacin da aka tattauna wannan kwata a cikin gida.

Kudadar Google Services ta kai dala biliyan 94.5, karin kashi 15 bisa dariya, inda bincike da sauransu suka samu dala biliyan 63.3 (karin kashi 17), tallan YouTube dala biliyan 11.1 (karin kashi 13), da biyan kuɗi, dandamali da na'urori dala biliyan 12.9 (karin kashi 15). Kudadar Google Cloud ta kai dala biliyan 24.8, karin kashi 82 bisa dariya, ribar aikin girgije kuma ta tashi daga dala biliyan 2.8 zuwa dala biliyan 8.8, karin sama da kashi 200 bisa dariya. Other Bets ta samu dala miliyan 382, yayin da ta yi asarar aiki ta dala biliyan 1.8.

Mafi muhimmancin lamba shi ne tsananin jari (capital intensity) na wannan ci gaba. Kashewar jari (capital expenditure) ta kai dala biliyan 44.9 a wannan kwata kawai, kuma kwararar kudi kyauta (free cash flow) ta kasance maras kyau dala biliyan 5.9. Wannan canji ne ga kamfani da a tarihi take samar da kwararar kudi kyauta mai kyau sosai. Ma'aikata sun karu zuwa 198,933, daga 187,103 shekara guda da ta gabata. Rabon kudin kwata (dividend) ya kasance dala 0.22 a kowace hannun jari, da za a biya a watan Satumba 2026.

A bangaren kayayyakin AI, kamfanin ya ruwaito cewa Gemini Enterprise yanzu kusan kashi 90 bisa dariya na kamfanonin Fortune 100 suna amfani da shi, cewa nau'ikan Gemini suna sarrafa API token biliyan 22 a kowace minti, kuma cewa manhajar Gemini ta masu amfani ta kai masu amfani miliyan 950 a kowane wata. Wadannan lambobi ne da kamfanin ya ruwaito, ba ma'auni da aka duba a daban ba, kuma ya kamata a karanta su haka, amma shugancin sauyawa daga gwaji zuwa kayayyakin more rayuwa da aka sanya a ciki, yayi daidai da abin da yawancin shugabannin fasaha na kamfanoni ke gani a cikin kungiyoyinsu.

Tasiri ga fasaha da tsarin gini

Babbar alamar tsarin gini ta wannan kwata ita ce sauyawar AI daga kashi na samfur zuwa kayan more rayuwa. Karin kudaden girgije na kashi 82 bisa dariya da ya zo tare da babban canji (step change) a ribar aikin girgije, yana nuna cewa abokan ciniki na kamfanoni suna mika ayyukan AI zuwa samarwa a babban matakin kasuwa, ba kawai gudanar da gwaje-gwaje ba. Wannan sauyawa tana canza tattaunawar saye (procurement) ta kowane CTO: tambayar ba ita ce wane nau'i za a gwada ba, a maimakon haka wane tsarin kayan more rayuwa za a kulla alaka da shi na shekaru uku zuwa biyar masu zuwa — silicon na musamman, iyalan nau'ikan, da tsarin bayanai.

Alphabet tana kwatanta kanta a matsayin dabarar cikakken tsari (full-stack) — wadda ta hada da kayayyakin more rayuwa na musamman, nau'ikanta, rarraba girgije, da manhajojin masu amfani da na kamfanoni — wannan tsari ne na gine-gine da sauran manyan masu samar da girgije da kamfanoni masu girma masu yawa ke tarbiya da shi. Darasi ga CTOs ba shi ne cewa kowace kungiya tana bukatar gina a wannan matakin ba. Shi ne tattalin arzikin AI a babban matakin kasuwa yana kara son kungiyoyin da ke da kayayyakin more rayuwa da aka hada a tsaye (vertically integrated) da damar samun nau'ikan, wanda yake da tasiri kai tsaye ga yanke shawarar gina ko saye (build versus buy), hadarin tarbiya mai sayarwa (vendor concentration risk), da layin kudin dogon lokaci na inference a babban matakin kasuwa.

Lambobin da aka ruwaito na API token biliyan 22 da ake sarrafawa a kowace minti, ma'auni ne mai amfani (proxy) na matakin da inference ke aiki a cikin manyan kamfanonin fasaha yanzu. Masu gine-ginen kamfanoni ya kamata su dauki tsara kudin inference da samarwa (throughput) a matsayin matsala ta farko ta tsara iya aiki (capacity planning), kamar yadda aka yi da tsara kwamfuta da ajiya a shekaru ashirin da suka gabata, a maimakon kudin da ke canzawa da aka shiga cikin biyan manhaja.

Tasiri ga kasuwanci da gasa

Kashewar jari ta kwata ta dala biliyan 44.9 da ta jawo kwararar kudi kyauta maras kyau, sanarwa ce bayyananna ta nufin gasa. Alphabet tana shirye ta sadaukar da samar da kudi na gajeren lokaci don samun matsayin kayan more rayuwa a kasuwar da take ganin ita ce tushen kasuwancinta na shekaru goma masu zuwa. Sauran manyan masu samar da girgije da ke fafatawa da ita ma suna yin irin wannan alkawari. Ga kamfanonin da ke dogaro da daya daga cikin wadannan dandamali, wannan yana da tasirin biyu kai tsaye da ya cancanci a tsara.

Na daya, saurin inganta ikon kayan more rayuwa da nau'ikan AI na kasuwanci — da wannan matakin zuba jari ke tallafawa — yana iya ci gaba da sauri a cikin watanni 18 zuwa 24 masu zuwa, wanda yana shafar tsawon rayuwar kowace shawarar gine-ginen AI da ake yanke yau. Na biyu, tarbiyar kashewar kayan more rayuwa na AI a tsakanin 'yan masu samarwa kalilan masu arziki, yana kara muhimmancin dabara na sharadin kwangila, matsar da bayanai (data portability), da juriyar girgije masu yawa ko nau'ikan masu yawa, tunda kudin canzawa (switching costs) yana karuwa yayin da wadannan dandamali ke shiga zurfi a cikin tsarin samarwa.

Cinikin kudaden tallan bincike da YouTube — duk suna hanzari ko da yake ana saka fasalullukan AI a cikin wadannan kayayyaki — alama ce mai amfani ga kowane CEO da ke damuwa ko zuba jari na AI zai cinye layukan kudade da suka riga suna aiki. A wannan yanayin, akalla har yanzu, hadewar AI tana karfafa kasuwancin talla na ainihi maimakon raunata shi.

Haddari da la'akari da mulki

Lokacin da aka yi amfani da wannan kwata a matsayin tushen bayani, haddari uku sun cancanci kulawa bayyananna na matakin hukuma. Na daya shi ne gibin da ke tsakanin ribar da aka ruwaito ta gaskiya da aikin ainihi: duk wani tsokaci na ciki ko na waje da ya ambaci lambar ribar dala biliyan 112.1 ba tare da ambata ribar hannun jari ta dala biliyan 99 ba, yana kara girman karfin kasuwa na ainihi fiye da gaskiya, kuma tawagar mulki ya kamata su dage cewa ana amfani da lambobin da aka gyara a duk wani bincike na kwatanta.

Na biyu shi ne hadarin raba jari (capital allocation). Kwararar kudi kyauta maras kyau da kashewar kayan more rayuwa na AI ke haifarwa, zabin dabara ne mai ma'ana ga kamfani da ke da takardar kudi kamar ta Alphabet, amma ba abin koyi ne da za a mika kai tsaye ga kungiyoyin da ba su da sassaucin jari ba. CTOs da ke ba da shawarar zuba jari na kayan more rayuwa na AI a cikin gida ya kamata su gabatar da tsananin jari na wannan gini da gaskiya, ba tare da nuna cewa matakan kashe kudi daidaici suna da daidaito da takardun kudi masu kankanta ba.

Na uku shi ne hadarin dogaro da mulki. Yayin da abokan ciniki na kamfanoni ke shiga zurfi a cikin tsarin samarwa da Gemini Enterprise da kayan more rayuwa na Google Cloud AI — bisa bayanin kamfanin, kusan kashi 90 bisa dariya na Fortune 100 sun karba — matsalolin mulkin bayanai, bayyananniyar nau'ikan, kulle mai sayarwa (vendor lock-in), da kula da AI ta alhaki, suna zama matsalolin matakin hukuma, ba kawai cikakkun bayanan aiwatarwa na fasaha ba. Ya kamata a nuna wannan a cikin tsarin mulkin AI (governance frameworks), a maimakon barin su ga tawagar saye da injiniya kawai.

Abin da shugabannin kamfanoni (CEO) ya kamata su yi

A kowace jawabin cikin gida game da sakamakon hyperscaler, raba ribar da aka ruwaito ta gaskiya daga aikin ainihi, kuma a bukaci irin wannan horo lokacin da ake gabatar da ribar zuba jarin AI na kanka ga hukuma.

Dauki wannan kwata a matsayin shaidar cewa zuba jarin kayan more rayuwa na AI yana hanzari a duk fannin, kuma a sake duba fannin kasafin kudi na AI na kungiyarka, a maimakon tunanin cewa matakan kashe kudi na yanzu sun isa don zagayen tsarawa na gaba.

A bukaci shugaban kudi da shugaban fasaha su gabatar tare da tsananin jari na alkawuran kayan more rayuwa na AI da aka ba da shawara tare da fa'idodin yawan aiki, domin a yanke shawarar raba jari da cikakkiyar fahimtar musayar kwararar kudi.

Idan aka yi la'akari da saurin da dogaro na kamfani ga 'yan kalilan masu samar da kayan more rayuwa na AI ke zurfi, a daga tarbiya mai sayarwa ta AI da mulkin bayanai zuwa ajar hukuma na dindindin.

Abin da shugabannin fasaha (CTO) ya kamata su yi

A yi tsarin kudin inference da samarwa a matsayin horo na ainihi na tsara iya aiki, ta amfani da lambobin wannan kwata a matsayin ma'auni na shuganci (directional benchmark) na inda ayyukan AI na samarwa ke zuwa.

Tunda tsarin cikakken tsari da aka hada a tsaye ya nuna cewa yana da amfanin tattalin arziki a babban matakin kasuwa, a sake kimanta shawarar gina ko saye ta kayan more rayuwa na AI, kuma a gano inda tsarin gine-ginenka ke haifar da kulle mai sayarwa ko nau'i da ba a bukata ba.

A gwada sharadin kwangila da masu samar da kayan more rayuwa da nau'ikan AI yanzu yayin da kudin canzawa har yanzu ana iya sarrafa shi, ba bayan da ayyuka sun shiga zurfi a cikin samarwa ba.

Idan aka yi la'akari da saurin da ake karbar dandamali kamar Gemini Enterprise a manyan kamfanoni, a gina kulawar AI ta alhaki da bayanai a cikin tsarin gine-ginen kayan more rayuwa tun farko, a maimakon gyara su bayan da karba ya yawaita.

Kammalawa ta dabara

Ya fi kyau a karanta sakamakon kwata na biyu na 2026 na Alphabet ba kamar labarin riba mafi girma ba — tunda babban bangaren lambar riba ta kan saman labari riba ce ta lissafi ta lokaci daya — a maimakon haka kamar labarin alkawarin jari ga kayan more rayuwa na AI a matakin da ke sake canza tattalin arzikin fasaha na kamfanoni. Cinikin girgije na kashi 82 bisa dariya — da kashewar jari ta kwata ta dala biliyan 44.9 ke tallafawa da sauyawa zuwa kwararar kudi kyauta maras kyau — ita ce alama mafi bayyananna da ke akwai yau ta inda za a yanke gasar AI ta kamfanoni na shekaru goma masu zuwa: a layin kayan more rayuwa, ba kawai layin nau'ikan ko manhajoji ba. Shugabannin kamfanoni da na fasaha da suka dauki wannan kwata a matsayin ma'aunin tsarawa maimakon labari da suka karanta wuri daya, za su kasance a mafi kyawun matsayi don yanke shawarar jari da gine-gine masu zuwa.

Tambayar hulda

Idan manyan masu samar da girgije suna shirye su gudanar da kwararar kudi kyauta maras kyau don kulle matsayin kayan more rayuwa na AI, me wannan ke gaya maka game da irin shawarwarin kayan more rayuwa da mulkin AI da kungiyarka ya kamata ta yanke a kwata biyu masu zuwa?

Yi tunani da lissafi. Yi injiniya da hikima. Yi jagoranci da dabara. Gina da alhaki. Fadada a duniya. Samar da gaskiyar darajar kasuwanci ta hanyar wucin gadi.

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