GW-proxy caveat: Alphabet/Google Cloud does not disclose data-center MW/GW capacity.
This chart plots USD billions quarterly capex actuals (SEC cash-flow purchases of
property and equipment) vs full-year FY2026 capex guidance vintages applied as-of each
quarter (~$180B midpoint from FY2025-FQ4 SEC 8-K; revised to ~$185B at FY2026-FQ1). FY2024-FQ4 is
shown as a separate annual anchor (diamond), not on the quarterly line. Not convertible to GW.
Alphabet (GOOGL) — Infrastructure Spend Proxy: Actual vs Guidance
Capex actual (quarterly proxy)FY2024 full-year actual (annual anchor)Latest FY2026 capex guidance vintage (as-of)Original FY2026 capex guidance (~$180B midpoint, from FY2025-FQ4)