Alphabet Won't Talk About Google-Apple AI Deal, Even to Investors

Amidst intense competition in the tech industry, the potential AI cooperation between Alphabet (Google's parent company) and Apple has become a market focus. However, during the latest earnings call, Alphabet CEO Sundar Pichai evaded a direct question from an analyst about this deal. The incident was reported by TechCrunch journalist Sarah Perez on February 5, 2026, with the headline "Alphabet won’t talk about the Google-Apple AI deal, even to investors." Pichai's silence not only disappointed investors but also triggered widespread speculation within the industry about Google's strategic intentions.

Event Review: An Awkward Moment on the Earnings Call

Alphabet released its Q4 and full-year fiscal 2025 earnings on the evening of February 4, 2026, with results exceeding expectations. Cloud business and YouTube advertising revenue performed impressively, driving total revenue to a record $350 billion. However, during the conference call, an analyst cut to the chase: "Could you comment on the progress of the Google-Apple AI deal? Will it affect the deployment of the Gemini model?" Pichai quickly shifted topics, emphasizing the company's focus on core AI innovation and search business optimization, without a direct response.

Alphabet CEO skipped an analyst's question about Apple on the company's earnings call.（原文摘要）

This evasion was no accident. As early as 2025, news broke of deep AI cooperation between Google and Apple, allegedly involving Apple integrating Gemini AI into Siri and iOS systems as a complement to competitors like ChatGPT. This resembles Google's prior agreement to pay billions annually to maintain its default search engine status in Safari, but the AI version could be more valuable, potentially reaching tens of billions of dollars.

Industry Background of the Google-Apple AI Cooperation

Historically, the relationship between Google and Apple has been complex and mutually beneficial. Since 2015, Google has paid Apple between $8 billion and $20 billion annually to secure its search engine's dominant position on iPhones. This "default agreement" has repeatedly faced antitrust investigations by the U.S. Department of Justice, and in 2024, Google lost the case and was fined billions. Now, in the AI era, cooperation has escalated to AI model licensing: Apple lacks its own large language model and has turned to Google's Gemini and OpenAI's GPT for support.

At WWDC 2025, Apple announced that the upgraded Siri would leverage external AI, and Google quickly became the preferred partner. Industry analysts believe this deal not only generates massive revenue for Google but also counters Microsoft's Copilot and Amazon's AI ambitions. However, antitrust pressure is mounting: EU and U.S. regulators question whether this alliance stifles innovation and whether Apple relies too heavily on the Google ecosystem.

For context, the AI industry is in the midst of a "model war." Google's Gemini 2.0 leads with multimodal capabilities, while Apple leverages hardware advantages (such as A-series chips) to drive edge AI. The cooperation could enable Gemini to run seamlessly on hundreds of millions of iPhones, pushing Google from cloud AI toward consumer-side penetration.

Analysis of the Reasons Behind Pichai's Evasion

Why is Alphabet being so cautious? First, the shadow of antitrust lawsuits looms large. Google has already lost cases in multiple countries, and making AI deal details public could trigger new fines and pressure to split up. Second, during the sensitive earnings period, the company needs to stabilize stock prices: Q4 stock already faced pressure from high AI investments, and any uncertainty could trigger sell-offs. Third, strategic ambiguity: Google is accelerating its own AI hardware development (e.g., Pixel phones) and is unwilling to let Apple gain too much sway.

Investors reacted quickly. After the call, Alphabet's stock fell 1.2%, and analysts such as Morgan Stanley's Brian Nowak lowered their target price, citing "increased valuation risk due to AI cooperation uncertainty." In contrast, Apple's stock rose slightly, benefiting from expectations of potential AI upgrades.

Editor's Note: The Deeper Meaning Behind the Silence and Future Outlook

As an AI tech news editor, I believe Pichai's silence is a classic "tech diplomacy" strategy: moving forward with cooperation quietly under regulatory pressure to avoid becoming a target. This reflects the "co-opetition" among giants: Google needs Apple's channel to reach users, and Apple relies on Google to fill its AI gaps. However, in the long run, this model may be unsustainable. Regulatory reforms (such as the U.S. "AI Antitrust Act" draft) could force the agreement to become transparent.

Looking ahead to 2026, Google may reveal more details at I/O, pushing Gemini Ultra into iPads and Macs. Meanwhile, competition will intensify: Meta's open-source Llama model and the rise of Android vendors like Xiaomi will test Google's ecosystem. Investors should watch Q1 earnings: if AI revenue share exceeds 30%, the likelihood of the deal closing increases significantly.

In summary, this incident highlights the uncertainty of the AI era: accelerating technology integration coupled with geopolitical and regulatory battles. Tech stock investors should be wary of "black swan" events.

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This article is compiled from TechCrunch, author Sarah Perez, original date February 5, 2026.