Alphabet 's stock is up 140% over the past year, with a cloud business that is growing faster than Amazon's and Microsoft's . But 18 months ago, the Google parent looked like it had spent a decade preparing for the artificial intelligence era, only to watch OpenAI define the market. Now, Wall Street is valuing Alphabet like one of the few companies positioned to profit from every layer of the generative AI boom. Google I/O, which begins Tuesday, has always been its venue for showing developers