Google Reportedly Cuts Smart TV Budget to Prioritize AI and YouTube

Alphabet Inc. (NASDAQ:GOOGL) is one of the best US tech stocks to buy now. On June 23, Google reportedly reduced its investment in its smart TV division, specifically cutting the budget for Google TV and Android TV by 10%. The reduction amounts to tens of millions of dollars from an annual budget that was previously under $500 million.

The cuts have affected the smart TV teams, which are responsible for powering smart TV platforms used by brands such as Sony, Hisense, and TCL, as well as supporting Google’s own TV devices. Up to a quarter of the ~300-person team may have been impacted by layoffs or internal restructuring. However, Google also plans to expand the team in some regions, particularly in India.

The shift aligns with Google’s prioritization of Gemini, as the company increases its budget for AI efforts. The reduction in Google TV’s budget also coincides with a focus on YouTube.

Alphabet Inc. (NASDAQ:GOOGL) offers various products and platforms through Google Services, Google Cloud, and Other Bets segments.

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Disclosure: None. This article is originally published at Insider Monkey.