Google Cloud’s 82% Q2 revenue growth sits alongside leadership changes and rising capital spending, which together have pushed Alphabet’s share price under closer scrutiny. That mix of strong cloud and enterprise AI demand, combined with fresh questions about talent and investment priorities, is creating both excitement and anxiety. This article spotlights 3 stocks exposed to that same news backdrop, helping you judge where the current AI and cloud momentum might matter most.

The stocks covered below are just a starting sample, and the full screen surfaced 32 more companies with equally compelling cloud and enterprise AI stories that are not included here.

Head straight to the Cloud Computing and Enterprise AI Services screener to identify, compare, and analyze the cloud and AI stocks that best fit your own conviction and risk profile.

AvePoint (AVPT)

Overview: AvePoint is a cloud data management company that helps organizations using Microsoft 365, Google, Salesforce and other SaaS platforms control, protect, and organize their information so it is secure, compliant, and ready for AI tools like Copilot and Gemini. Its platform covers data governance, backup and recovery, and modernization of older systems into AI ready, SaaS based workflows.

Operations: AvePoint generates about $444 million in revenue, almost entirely from Software & Programming, with key markets including the United States at around $169 million, EMEA at roughly $143 million, and APAC at about $128 million.

Market Cap: US$2.9b

Google Cloud’s surge in enterprise AI demand plays directly into AvePoint’s core pitch. Companies want to roll out tools such as Gemini and Copilot without losing control of sensitive data, and AvePoint positions its governance, backup and AI readiness platform as that missing safety layer across Microsoft, Google, Salesforce and more. Profitability, revenue growth forecasts ahead of the broader US market, and new products such as Kinetic Classification and Rapid Recovery indicate that management is focusing on this need for trusted data. At the same time, heavy dependence on Microsoft, a relatively high P/E, and funding that relies fully on external borrowing make this a more complex story. For investors, that combination of AI related demand and concentrated risks may make AvePoint a candidate for further individual research.

AvePoint’s AI ready data story looks powerful, yet the real question is how much of that promise is already in the price. Stack the growth narrative against the current P/E in the DCF valuation analysis for AvePoint

Build your own AI ready data shortlist around AvePoint

AvePoint and the two other stocks in this article surfaced from our screener, but the real edge comes when you shape your own filters. Use our flexible Screener to mix valuation, growth, quality and risk checks to suit your style, or tap into any of our ready made Investing Ideas for a curated starting point.

Q2 Holdings (QTWO)

Overview: Q2 Holdings runs cloud based digital banking platforms that help banks, credit unions and fintechs offer mobile and online banking, manage lending, and fight fraud while keeping up with changing regulations. Its tools also let partners plug in new financial apps and AI driven services so end users get more tailored, real time banking experiences.

Operations: Q2 Holdings generates all of its roughly $846 million in revenue from the sale, implementation and support of its software solutions, almost entirely in the United States.

Market Cap: US$4.0b

Q2 Holdings operates in areas where banks and fintechs are pushing hardest into cloud and AI, which is why the Google Cloud news matters. As large platforms pour money into enterprise AI, Q2’s digital banking, fraud and AI products, such as Q2 Assistant and Q2 Code, give smaller institutions a way to keep pace without building everything themselves. Recent results highlight subscription strength, rising margins and a cleaner balance sheet after repaying convertible notes. At the same time, investors still need to weigh insider selling, reliance on external funding and a richer valuation that could be sensitive if growth slows. For anyone tracking how AI is reshaping financial services, Q2 is a stock that may warrant closer monitoring.

Q2 Holdings looks like a rare mix of subscription strength, higher margins and cleaner debt. Before you file it under “priced for perfection”, walk through the 3 key rewards and 1 important warning sign and see what might be hiding in plain sight

MongoDB (MDB)

Overview: MongoDB provides a general purpose, cloud friendly database platform that lets developers store, manage and query data for everything from web and mobile apps to AI workloads. Its flagship Atlas service runs across major public clouds, while Enterprise Advanced and the free Community Server give larger companies and individual developers flexible options on where and how to run their databases.

Operations: MongoDB generates about $2.6b in revenue from Data Processing, with reported regional contributions from Asia Pacific at roughly $301 million and Europe, Middle East and Africa at about $725 million.

Market Cap: US$30.6b

MongoDB sits in the slipstream of Google Cloud’s AI push because enterprises that want AI rich applications also need a scalable, cloud native database to store operational and vector data. Atlas is already a large part of revenue, and management has highlighted AI agents and context heavy workloads as an important use case. Guidance indicates that AI is a modest revenue driver at this stage. MongoDB is also progressing on its path from losses to profitability and faces competition from cloud provider databases and open source alternatives, with shares trading at a premium valuation. For investors, the combination of AI related use cases, recurring cloud revenue and higher risk funding and valuation makes MongoDB a company that may warrant closer examination.

MongoDB’s AI story is just getting started, and the real puzzle is how its growth potential stacks up against premium expectations. Line up that promise with the analyst forecasts for MongoDB and see what the current pricing might be missing.

Seeking Alternatives Before Momentum Flies

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.