Alphabet Inc. (Class A) (GOOGL)[Tv]

Key Developments

• Alphabet secured a landmark $920 million monthly agreement with SpaceX to power AI workloads in its data centers, set to ramp up in October—marking a pivotal validation of GOOGL’s central role in the AI infrastructure supply chain.
• Berkshire Hathaway made a historic $30 billion investment in GOOGL, including a $10 billion private placement, representing Warren Buffett’s first net stock purchase in 14 quarters and signaling an unprecedented vote of confidence in Google’s AI future.
• GOOGL announced $25 billion in new bond issuance as part of a $50 billion capital reallocation strategy, reflecting a strategic pivot from cash generation to aggressive infrastructure investment in AI, with full-year capex projected at $195–205 billion.
• The SEC granted AI data centers an exemption from strict ABS rules, enabling GOOGL and peers to offload up to $1 trillion in AI-related debt via special purpose vehicles—fundamentally altering capital structure dynamics and raising concerns over hidden leverage.
• Google Cloud reported $514 billion in cloud backlog and 82% YoY revenue growth, confirming structural dominance in enterprise AI infrastructure and proving deep commercial traction for its vertically integrated TPU and Gemini ecosystem.