Google DeepMind, Google Cloud to allow European researchers access to frontier models

Impact · against what's priced in

This is a non-event for GOOGL's stock price. Providing research access to frontier models is a standard ecosystem play that does not provide the scale of commercial cloud acceleration or margin expansion required to move the needle on current valuation.

GOOGL+0.05

Already priced in

The price assumes

Cloud revenue growing at or just above the current 35.8% pace

Granting European researchers access to frontier models supports current cloud adoption trends, but the market already assumes this baseline growth and isn't paying for a growth acceleration to 40% based on research access alone.

What GOOGL's price assumes · Sep 2

• cloud computing▲1%
• ai
• GOOGL
• deepmind
• europe
• frontier models
• google
• research

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