{"slug":"alphabet","name":"알파벳 (구글)","name_en":"Alphabet (Google)","ticker":"GOOGL","updated_at":null,"canonical":"https://valuechain.wiki/alphabet","kicker":"클라우드 · AI 인프라 · 자체 실리콘(TPU)","kicker_en":"Cloud · AI infrastructure · In-house silicon (TPU)","lead":"검색·유튜브·안드로이드·구글클라우드를 운영하는 빅테크. FY2025 매출 $402.8B(+15%), 순이익 $132.2B. AI 데이터센터 확충에 현금 설비투자를 1년 만에 $52.5B에서 $91.4B로 늘렸고 2026년은 $175~185B를 예고했다. 자체 AI칩 TPU(아이언우드)를 브로드컴과 공동설계해 TSMC에서 생산하고, 엔비디아 GPU도 대량 구매하는 AI 칩 수요의 핵심 종착지.","lead_en":"Big-tech operator of Search, YouTube, Android and Google Cloud. FY2025 revenue was $402.8B (+15%) and net income $132.2B. To expand AI data centers it raised cash capex from $52.5B to $91.4B in one year and guided 2026 to $175-185B. It co-designs its own TPU (Ironwood) with Broadcom and builds it at TSMC, while also buying Nvidia GPUs in volume. A key demand sink for AI chips.","segments":{"fy":2025,"parts":[{"desc":"검색·유튜브·안드로이드·구독 (광고가 대부분)","name":"Google Services"},{"desc":"GCP·워크스페이스 (Q4 매출 $17.7B, +48%, 연환산 런레이트 $70B+)","name":"Google Cloud"},{"desc":"Waymo 등","name":"Other Bets"}],"total":"FY2025 매출 $402.8B (+15%), 순이익 $132.2B","source":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","concentration":"AI 인프라 수요의 종착지. 현금 capex $91.4B(FY2025, 전년 $52.5B에서 +74%), 2026년 가이던스 $175~185B. 자체칩 TPU(아이언우드)는 브로드컴 공동설계·TSMC 생산, GPU는 엔비디아(2024년 호퍼 16.9만대). TSMC 생산한계로 인텔·삼성 파운드리로 분산 중."},"segments_en":{"parts":[{"desc":"Search, YouTube, Android, subscriptions (mostly ads)","name":"Google Services"},{"desc":"GCP and Workspace (Q4 revenue $17.7B, +48%, run-rate over $70B)","name":"Google Cloud"},{"desc":"Waymo and others","name":"Other Bets"}],"total":"FY2025 revenue $402.8B (+15%), net income $132.2B","concentration":"Demand sink for AI infrastructure. Cash capex $91.4B (FY2025, up 74% from $52.5B); 2026 guidance $175-185B. Its own TPU (Ironwood) is co-designed with Broadcom and made by TSMC; GPUs from Nvidia (169k Hopper units in 2024). Diversifying to Intel and Samsung foundries as TSMC hits capacity."},"edges":[{"direction":"revenue","counterparty":"광고·소비자 (Search·YouTube·Android)","counterparty_slug":null,"confidence":"high","metric":{"type":"revenue","unit":"USD","as_of":"2025-12-31","basis":"10-K 연간 총매출","value":402800000000,"period":"FY2025","basis_en":"10-K annual total revenue"},"note":"밸류체인의 수요 끝단. 검색·유튜브·안드로이드 광고와 구독이 매출 대부분. FY2025 총매출 $402.8B.","note_en":"The demand end of the chain: Search, YouTube and Android ads plus subscriptions make up most revenue. FY2025 total revenue $402.8B.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","title":"Alphabet FY2025 Form 10-K (2025-12-31 종료)","title_en":"Alphabet FY2025 Form 10-K (year ended Dec 31, 2025)","excerpt":"FY2025 총매출 $402.8B(+15%), 순이익 $132.2B. YouTube 연매출 $60B+.","excerpt_en":"FY2025 total revenue $402.8B (+15%), net income $132.2B; YouTube annual revenue over $60B."}]},{"direction":"cost","counterparty":"NVIDIA","counterparty_slug":"nvidia","confidence":"high","metric":{"type":"units","unit":null,"as_of":"2024-12-19","basis":"옴디아 추정","value":169000,"period":"CY2024","basis_en":"Omdia estimate","qualifier":"estimate"},"note":"구글클라우드용 엔비디아 GPU 대량 구매. 2024년 호퍼 약 16.9만대(옴디아). 엔비디아 상위 4대 고객 중 하나.","note_en":"Buys Nvidia GPUs in volume for Google Cloud: about 169k Hopper units in 2024 (Omdia). One of Nvidia’s top-4 customers.","sources":[{"stance":"mentions","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","title":"Alphabet FY2025 Form 10-K (2025-12-31 종료)","title_en":"Alphabet FY2025 Form 10-K (year ended Dec 31, 2025)","excerpt":"10-K: FY2025 현금 capex $91.4B(전년 $52.5B에서 +74%)로 AI 인프라·가속기 투자가 급증(벤더명 비공개).","excerpt_en":"10-K: FY2025 cash capex of $91.4B (up 74% from $52.5B) reflects a surge in AI infrastructure and accelerator investment (vendors not named)."},{"stance":"confirms","publisher":"하이제(heise online)","publisher_en":"heise online","kind":"news","lang":"en","published_at":"2024-12-19","url":"https://www.heise.de/en/news/Microsoft-buys-most-Nvidia-accelerators-10215630.html","title":"마이크로소프트, 엔비디아 가속기 최다 구매 (옴디아 추정)","title_en":"Microsoft buys most Nvidia accelerators (Omdia estimate)","excerpt":"옴디아 추정상 알파벳(구글)은 2024년 호퍼 GPU 약 16.9만대를 구매.","excerpt_en":"Per Omdia, Alphabet (Google) purchased about 169,000 Hopper GPUs in 2024."}]},{"direction":"cost","counterparty":"Broadcom","counterparty_slug":"broadcom","confidence":"high","metric":{"type":"qualifier","as_of":"2025-11-07","value":null,"period":"2025","qualifier":"confirmed_no_disclosed_value"},"note":"자체 AI칩 TPU(아이언우드/TPU v7, 차세대 8t)를 브로드컴과 공동설계·위탁개발. 브로드컴과의 계약은 2031년까지. 최대 커스텀 AI 칩 파트너.","note_en":"Co-designs and co-develops its own TPU AI chips (Ironwood/TPU v7, next-gen 8t) with Broadcom, under an agreement running to 2031. Its biggest custom-AI-chip partner.","sources":[{"stance":"confirms","publisher":"트렌드포스","publisher_en":"TrendForce","kind":"analysis","lang":"en","published_at":"2025-11-07","url":"https://www.trendforce.com/news/2025/11/07/news-google-unveils-7th-gen-tpu-ironwood-with-9216-chip-superpod-taking-aim-at-nvidia/","title":"구글, 7세대 TPU 아이언우드 공개 — 9,216칩 슈퍼팟","title_en":"Google unveils 7th-gen TPU Ironwood with 9,216-chip superpod","excerpt":"구글이 7세대 TPU 아이언우드를 공개. 브로드컴과 공동설계, 9,216칩 슈퍼팟으로 엔비디아에 도전.","excerpt_en":"Google unveiled its 7th-gen TPU Ironwood, co-designed with Broadcom, with a 9,216-chip superpod aimed at Nvidia."},{"stance":"confirms","publisher":"톰스하드웨어","publisher_en":"Tom's Hardware","kind":"analysis","lang":"en","published_at":null,"url":"https://www.tomshardware.com/tech-industry/semiconductors/custom-ai-asics-examined-from-broadcom-to-mtia","title":"커스텀 AI ASIC 현황 — 브로드컴·구글 TPU·메타 MTIA","title_en":"The custom AI ASIC state of play — Broadcom, Google TPUs, Meta MTIA","excerpt":"브로드컴이 아이언우드와 TPU 8t 학습칩을 2031년까지 이어지는 계약으로 설계.","excerpt_en":"Broadcom designs Ironwood and the TPU 8t training chip under an agreement running through 2031."},{"stance":"mentions","publisher":"디일렉","publisher_en":"THE ELEC","kind":"news","lang":"ko","published_at":null,"url":"https://www.thelec.kr/news/articleView.html?idxno=58018","title":"구글 차세대 TPU, 삼성도 만든다","title_en":"Samsung to make some of Google’s next-gen TPU","excerpt":"구글 차세대 TPU의 설계·생산 체계 보도(공동설계 구조 확인).","excerpt_en":"Korean coverage of Google’s next-gen TPU design and production chain."}]},{"direction":"cost","counterparty":"TSMC","counterparty_slug":"tsmc","confidence":"high","metric":{"type":"process","as_of":"2025-11-07","basis":"TSMC N3P","value":null,"period":"2026","basis_en":"TSMC N3P","qualifier":"confirmed_no_disclosed_value"},"note":"자체 TPU 아이언우드를 TSMC N3P 공정으로 위탁생산(HBM3E 192GB). 자체 Arm CPU 액시온도 TSMC.","note_en":"Has its own TPU Ironwood fabricated at TSMC on N3P (192GB HBM3E); its Axion Arm CPU is also at TSMC.","sources":[{"stance":"mentions","publisher":"헤럴드경제","publisher_en":"Herald Economy","kind":"news","lang":"ko","published_at":"2026-06-10","url":"https://biz.heraldcorp.com/article/10768088","title":"TSMC가 다 못 만든다…인텔, 구글 AI 칩 수주","title_en":"TSMC at capacity: Intel wins Google AI-chip foundry orders","excerpt":"TPU는 그동안 TSMC가 생산해 왔으나 생산한계로 공급처를 늘리는 중.","excerpt_en":"TSMC has manufactured the TPUs, but Google is adding suppliers as TSMC hits capacity."},{"stance":"confirms","publisher":"트렌드포스","publisher_en":"TrendForce","kind":"analysis","lang":"en","published_at":"2025-11-07","url":"https://www.trendforce.com/news/2025/11/07/news-google-unveils-7th-gen-tpu-ironwood-with-9216-chip-superpod-taking-aim-at-nvidia/","title":"구글, 7세대 TPU 아이언우드 공개 — 9,216칩 슈퍼팟","title_en":"Google unveils 7th-gen TPU Ironwood with 9,216-chip superpod","excerpt":"아이언우드는 TSMC 공정에 HBM3E 192GB를 탑재.","excerpt_en":"Ironwood is built on a TSMC process with 192GB of HBM3E."}]},{"direction":"revenue","counterparty":"Google Cloud 고객 (기업·AI)","counterparty_slug":null,"confidence":"mid","metric":{"type":"revenue","unit":"USD","as_of":"2025-12-31","basis":"분기 매출(연환산 $70B+)","value":17700000000,"period":"Q4 2025","basis_en":"quarterly revenue (run-rate $70B+)","qualifier":"approx"},"note":"GCP·TPU 컴퓨트를 기업·AI 고객에 판매. Q4 2025 매출 $17.7B(+48%), 연환산 런레이트 $70B+.","note_en":"Sells GCP and TPU compute to enterprise and AI customers. Q4 2025 revenue $17.7B (+48%), run-rate over $70B.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/1652044/000165204426000018/goog-20251231.htm","title":"Alphabet FY2025 Form 10-K (2025-12-31 종료)","title_en":"Alphabet FY2025 Form 10-K (year ended Dec 31, 2025)","excerpt":"구글클라우드 매출이 AI 수요로 급증(Q4 +48%, 연환산 런레이트 $70B+).","excerpt_en":"Google Cloud revenue surged on AI demand (Q4 +48%, run-rate over $70B)."}]},{"direction":"cost","counterparty":"SK하이닉스","counterparty_slug":"sk-hynix","confidence":"mid","metric":{"type":"qualifier","as_of":"2025-11-07","value":null,"period":"2025","qualifier":"confirmed_no_disclosed_value"},"note":"TPU 아이언우드의 HBM3E(192GB)와 데이터센터 메모리 공급(공급사·물량 비공개).","note_en":"Supplies HBM3E (192GB) for TPU Ironwood and data-center memory (supplier/volume undisclosed).","sources":[{"stance":"confirms","publisher":"트렌드포스","publisher_en":"TrendForce","kind":"analysis","lang":"en","published_at":"2025-11-07","url":"https://www.trendforce.com/news/2025/11/07/news-google-unveils-7th-gen-tpu-ironwood-with-9216-chip-superpod-taking-aim-at-nvidia/","title":"구글, 7세대 TPU 아이언우드 공개 — 9,216칩 슈퍼팟","title_en":"Google unveils 7th-gen TPU Ironwood with 9,216-chip superpod","excerpt":"아이언우드는 HBM3E 192GB(대역폭 7.37TB/s)를 탑재.","excerpt_en":"Ironwood carries 192GB of HBM3E at 7.37 TB/s."}]},{"direction":"cost","counterparty":"Marvell","counterparty_slug":"marvell","confidence":"mid","metric":{"type":"qualifier","as_of":"2026-06-10","value":null,"period":"2026","qualifier":"sole_source"},"note":"맞춤형 AI 반도체 고객으로 거론(주력 커스텀 파트너는 브로드컴). 과대귀속 주의.","note_en":"Cited as a custom-AI-silicon customer (its main custom partner is Broadcom); attribution kept cautious.","sources":[{"stance":"mentions","publisher":"헤럴드경제","publisher_en":"Herald Economy","kind":"news","lang":"ko","published_at":"2026-06-10","url":"https://biz.heraldcorp.com/article/10768088","title":"TSMC가 다 못 만든다…인텔, 구글 AI 칩 수주","title_en":"TSMC at capacity: Intel wins Google AI-chip foundry orders","excerpt":"구글의 커스텀 AI 칩 공급망 재편 보도 맥락에서 다수 협력사 거론.","excerpt_en":"Mentioned among suppliers in coverage of Google’s custom-AI-chip supply-chain shift."}]},{"direction":"cost","counterparty":"Intel","counterparty_slug":"intel","confidence":"mid","metric":{"type":"qualifier","as_of":"2026-06-10","value":null,"period":"2027","qualifier":"confirmed_no_disclosed_value"},"note":"차세대 TPU 일부 물량을 인텔 파운드리에 위탁(TSMC 생산한계 분산). 2027~2028년 TPU 600만개 중 일부를 인텔에.","note_en":"Outsources part of next-gen TPU volume to Intel Foundry as TSMC hits capacity; a share of an estimated 6M TPUs in 2027-2028 goes to Intel.","sources":[{"stance":"confirms","publisher":"헤럴드경제","publisher_en":"Herald Economy","kind":"news","lang":"ko","published_at":"2026-06-10","url":"https://biz.heraldcorp.com/article/10768088","title":"TSMC가 다 못 만든다…인텔, 구글 AI 칩 수주","title_en":"TSMC at capacity: Intel wins Google AI-chip foundry orders","excerpt":"인텔 파운드리가 구글 AI 칩(TPU)을 수주, TSMC 대체 공급처로 부상.","excerpt_en":"Intel Foundry won Google AI-chip (TPU) orders, emerging as an alternative to TSMC."}]},{"direction":"cost","counterparty":"Samsung Electronics","counterparty_slug":"samsung-electronics","confidence":"low","metric":{"type":"qualifier","as_of":null,"value":null,"period":"2026","qualifier":"sole_source"},"note":"차세대 TPU(아이스피시) 일부 부품 생산을 삼성 파운드리에 검토 중(미확정).","note_en":"Considering Samsung Foundry for some next-gen TPU (Icefish) components (not yet confirmed).","sources":[{"stance":"mentions","publisher":"디일렉","publisher_en":"THE ELEC","kind":"news","lang":"ko","published_at":null,"url":"https://www.thelec.kr/news/articleView.html?idxno=58018","title":"구글 차세대 TPU, 삼성도 만든다","title_en":"Samsung to make some of Google’s next-gen TPU","excerpt":"구글이 차세대 TPU 핵심 부품 생산을 삼성전자 파운드리에 맡기는 방안을 검토.","excerpt_en":"Google is considering Samsung’s foundry for production of some next-gen TPU components."}]}]}