GOOG · 10-Q · 2026Q2 · Full report
Capital Expenditure Program
Alphabet Inc. · 2026-07-23 · Importance 89 · Surprise 82 · From source text
Alphabet spent $80.6 billion on capital expenditures in the six months ended June 30, 2026, compared with $39.6 billion in the prior-year period, primarily for technical infrastructure, servers, network equipment, data-center land, and construction. Management expects 2026 investment in technical infrastructure, including servers, network equipment, and data centers, to increase significantly relative to 2025. Depreciation on property and equipment rose to $13.6 billion from $9.5 billion year over year, reflecting assets placed into service. The company also raised $49.6 billion through common stock and mandatory convertible preferred stock offerings, with proceeds intended partly to scale AI infrastructure and global compute.
Key facts
- Capital expenditures for the six months ended June 30, 2026 were $80.6 billion versus $39.6 billion for the six months ended June 30, 2025. source
- Capital expenditures for the three months ended June 30, 2026 were $44.9 billion, primarily investments in technical infrastructure. source
- Depreciation on property and equipment for the six months ended June 30, 2026 was $13.6 billion versus $9.5 billion for the six months ended June 30, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -4.5% | Capital expenditures for the six months ended June 30, 2026 were $80.6 billion versus $39.6 billion for the six months ended June 30, 2025. |
| assets | positive | realized | +4.5% | Capital expenditures for the six months ended June 30, 2026 were $80.6 billion versus $39.6 billion for the six months ended June 30, 2025. |
| operating_income | negative | realized | -3.4% | Depreciation on property and equipment for the six months ended June 30, 2026 was $13.6 billion versus $9.5 billion for the six months… |