Person
President and chief investment officer of Alphabet and Google, previously the group's chief financial officer.
Alphabet expects capex to increase significantly next year from roughly $200 billion on AI this year, president Ruth Porat told Fortune. The evidence offered for the demand behind the plan is Porat's own description of it.
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Alphabet will spend about $200 billion on capacity this year and more in 2027, its president and CIO Ruth Porat told Fortune. It is a plan from one buyer, and the same Fortune newsletter reported more frantic selling in Asia as chip stocks nosedive.
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Alphabet president Ruth Porat said Monday that capex will "increase significantly" next year from roughly $200 billion this year. Second-quarter free cash flow was already negative $5.9 billion, a first for Alphabet as a public company.
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The €13 billion Google is putting into Finnish data centres in 2027 and 2028 comes with a two-decade electricity contract that Fortum says will support its programme to extend the Loviisa reactors' operating life.
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Google will spend 13bn euros on four Finnish sites in 2027 and 2028. To secure the power for them, it has contracted Loviisa's life extension plus 629MW of new wind.
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