- Google (GOOG, GOOGL) plans to build three underwater cables by next year to help Google Cloud reach new regions.
- One cable will connect Chile to Los Angeles, the second (done in conjunction with Facebook (NASDAQ:FB)) connects the U.S. to Denmark and Ireland, and the third runs from Hong Kong to Guam.
- Netherlands and Montreal regions will open in 1Q18 with L.A., Finland, and Hong Kong to follow.
- Google now has 11 direct investments in cables, which help maintain service in an area in case of server malfunctions.
- Market share: Google Cloud held a 6% cloud services market share in Q3, according to Canalys research, The share represented a 76% growth on the year, but Google still took third place to Amazon (NASDAQ:AMZN) Web Services (32% share) and Microsoft (NASDAQ:MSFT) Azure (14% share.)
- Alphabet Class A shares are up 0.7% and Class C shares are up 0.9%.
- Previously: Google acquired speaker tech startup last year (Jan. 11)
- Now read: Why You Should Still Own FANG If You Believe In This Bull Market
Original article