Alphabet Inc.
GOOGLpublicSearch, Cloud & AI
Google parent. GCP is the third-largest cloud provider. Investor in Anthropic. Extended server depreciation life from 4 to 6 years in 2023, adding ~$3B/yr to earnings.
2024 CAPEX
$52.6B
YoY 2024 vs 2023
+11.0%
Latest Quarter
$16.5B
Q4'25
2025 Guidance
$75.0B
CAPEX History — Quarterly
Guidance Tracker
FY2025
Completed
“We expect our 2025 capital expenditures to be approximately $75 billion, reflecting our confidence in the significant long-term growth opportunity in AI.”
Guided: $75.0B
Actual to date: $61.9B
83%
FY2026
On Track
“We expect 2026 capital expenditures to be in line with or above 2025 levels as we continue to invest in our AI infrastructure and data center capacity globally.”
Guided: $75.0B–$80.0B
FY2027
Pending
“Sundar Pichai reiterated multi-year commitment to AI infrastructure. 2027 investment expected to continue scaling with demand.”
Guided: $85.0B–$95.0B
Key Quotes
Anat Ashkenazi·CFO·2025-02-04
“Our 2025 capex reflects the significant investment we see as necessary to capture the long-term opportunity in AI and cloud.”
Q4 2024 Earnings Call
Compute Clusters
TPU v5 clusters
Google TPU v5
operational
Partnerships & Investments
Anthropic
Google has invested ~$2B+ in Anthropic. Anthropic uses Google Cloud for training.
$2.0B
investment
cloudAIGCPAnthropicsearchTPUhyperscalermag7