GOOG · News · 20261105N

Capital Return Program

Alphabet Inc. · 2026-11-05 · Importance 40 · Surprise 56

Alphabet was reported to have significantly reduced or ceased share repurchases in Q3 2026 as AI infrastructure spending took priority. Combined Q3 repurchases by Alphabet, Amazon, Meta, Microsoft, and Oracle were $4.4 billion, the lowest quarterly total since Q3 2017 and 90% below the $45.9 billion peak in Q4 2021. The five-company group had recorded three consecutive quarters of buybacks below $5 billion.

Key facts

• Alphabet has significantly reduced or ceased buybacks as AI spending takes precedence, according to the report. source