Update
Alphabet Reaffirms Capex Guidance
Alphabet, the parent company of Google, has reaffirmed its $195 billion to $205 billion capex guidance for fiscal year 2026. The company lifted its fiscal 2026 capex outlook during its second-quarter earnings call in July 2026, with the midpoint of the range jumping by $15 billion to $195 billion to $205 billion. This reaffirmation came after the company reported third-quarter results in October 2026, which showed $51.36 billion in capex, nearly double the amount spent in the same quarter a year earlier. Most of the spending is allocated to hardware, with 60% earmarked for servers and AI accelerators, and 40% for data centers and networking. CEO Sundar Pichai has highlighted the growing demand for AI compute.