"We're continuing to invest aggressively due to the demand we're experiencing from cloud customers as well as the growth opportunities we see across the company. We now expect capex to be in the range of $91 billion to $93 billion in 2025, up from our previous estimate of $85 billion... Looking out to 2026, we expect a significant increase in capex."
"We're increasing our spend on GPUs and CPUs. Therefore, total spend will increase sequentially, and we now expect the financial year 2026 growth rate to be higher than financial year 2025,"
Alphabet expects capital expenditures to reach $91–$93 billion in 2025 to expand datacenters and meet cloud customer demand for AI services. Third-quarter revenue was $102.34 billion, a 16 percent year-on-year increase. Capex rose from $32.25 billion in 2023, with prior 2025 estimates at $75 billion and $85 billion before the new range. Outlook anticipates a significant capex increase in 2026. Microsoft is also accelerating investment, reporting $34.9 billion in capex for the first quarter of its 2026 financial year, up from $24 billion the prior quarter, with about half the spending on GPUs and CPUs.
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