Alphabet spent $51.4 billion on capital projects in Q3 2026 to build AI infrastructure, more than double a year earlier. The company kept its 2026 spending range of $195 to $205 billion and said spending will grow significantly in 2027. Microsoft spent $45.2 billion in its fiscal first quarter, below its guidance of more than $50 billion because some third-party capacity arrived late, and expects spending to pick up in the second half, mostly on CPUs and GPUs. The author argues that rising customer budgets benefit Nvidia even as its growth slows, and says Vertiv also benefits from this build-out but trades at a notably higher price-to-earnings multiple than Nvidia.
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AI investmentdata centersartificial intelligenceGOOGLNVDA
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Related tickers and likely impact
GOOGL
• NeutralAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $3.5T |
| Close on 10/30/2026 | 279.76 |
| Change that session | -1.43% |
NVDA
▲ Likely positiveNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/30/2026 | 204.81 |
| Change that session | -4.14% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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