Google raises 2026 AI data center spending to $195-205 billion

Google increased its 2026 capital expenditure guidance to $195-205 billion, citing accelerating AI data center buildout. The increase comes alongside record Google Cloud revenue in the same earnings period.

Why it matters: This puts Google's committed AI infrastructure spend in the same league as OpenAI's already-reported $750 billion commitment, showing the hyperscaler capex race keeps escalating rather than plateauing. Investors have flagged unease about the pace of spending even as cloud revenue records provide near-term justification.