The Alphabet earnings report week is here, and Wall Street is watching closely.

As we all know, Google relies on advertising for revenue (search + YouTube), but there is a department that has always attracted attention called "Other Bets"—this is Alphabet's black technology incubator.

What’s inside? Nest smart home, Verily life sciences, Google Fiber broadband, and the autonomous driving unicorn Waymo. It is estimated that the revenue from Other Bets for the next quarter will be approximately $362 million, a year-on-year increase of 38.2% (up 53.3% to $302 million last quarter).

The key is that Waymo is now operating independently, transforming from a secret project into a truly commercial autonomous driving company. If this business takes off, it could redefine Alphabet's growth logic.

This year, the earnings report season for tech stocks is all about whether this number can continue to gain momentum.