“Google might have no profits in 2027: with roughly $180 billion (Google) and $200 billion (Amazon) of AI infrastructure capex, hyperscaler profits disappear by 2027.”
Said Feb 26, 2026Deadline Dec 31, 2027Latent Space, 'In-Context Cooking' podcast with Dylan Patel, February 26, 2026
Alphabet has guided to $175–185B of 2026 capex against ~$165B of 2025 operating cash flow, so the test is whether reported 2027 profit/free cash flow collapses toward zero.