Alphabet publishes investor presentation outlining AI-led growth strategy and $180-190 billion CapEx outlook

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Alphabet outlined a major AI-led investment push, projecting 2026 capex of USD 180-190 billion, roughly 6x 2022’s USD 31 billion.
Most spending targeted to technical infrastructure, citing demand for AI services that is materially outstripping available supply.
Funding plan includes operating cash flow, debt issuance, and an equity offering, while aiming to maintain a strong balance sheet.
2026 Q1 revenue rose 22% to USD 110 billion; operating income increased 30% to USD 40 billion.
Search revenue grew 19%; Cloud revenue rose 63% with backlog above USD 460 billion; 2025 YouTube revenue topped USD 60 billion.

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