“For the full year 2026, we expect CapEx to be in the range of $175 billion to $185 billion, with investments ramping over the course of the year. We're investing in AI compute capacity to support frontier model development by Google DeepMind, and to meet Cloud customer demand.”

Context: Alphabet spent $91.4 billion in 2025; it has already raised 2026 guidance twice since this forecast — to $180-190 billion and then $195-205 billion in July 2026 — so the original range looks likely to be exceeded, but it resolves on full-year 2026 results.