Google to Double Capital Expenditure, Highlighting Broader US Investment Surge

The Google logo on the Google house at CES 2024, an annual consumer electronics trade show, in Las Vegas on Jan. 10, 2024. Steve Marcus/ReutersTech giant Alphabet beat Wall Street expectations for its latest quarter on Feb. 4 and said it plans to more than double capital spending this year, a sharp escalation that puts the Google parent at the center of an intensifying U.S. investment cycle spanning Big Tech, defense manufacturing, and industrial equipment.Executives characterized the spending surge as a direct response to soaring demand for artificial intelligence compute—and an increasingly tight supply environment for the power, land, and hardware needed to build it.