01:53 PM EDT, 10/30/2024 (MT Newswires) -- Alphabet's (GOOG, GOOGL) Google Cloud said Wednesday that the first virtual machines featuring its new Axion chip, which was developed with technology from Arm Holdings ( ARM ) , are now available to all cloud customers.

Google Cloud said the chip is 60% more energy efficient and has a 65% better price-performance than comparable, current-generation CPUs. The C4A virtual machines are designed for various workloads, including web servers, AI inference applications, data analytics engines and media processing.

Spotify Technology ( SPOT ) and Paramount Global ( PARAA ) are utilizing the newly designed chip to enhance their streaming services, according to Google Cloud.

Alphabet's shares were up 4.1% in recent trading.

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