Google's AI infrastructure spending is massive. They had $45B in CapEx this quarter, bringing year-to-date spending to around $132B, which is up about 100%.
This is a significant signal for the AI supply chain. Google isn't slowing down, which suggests demand for AI compute is still outpacing current capacity.
Some companies that could be impacted include $Micron Technology(MU)$ , $NEBIUS(NBIS)$ , $Applied Optoelectronics(AAOI)$ , $Lumentum(LITE)$ , and CRDO.
Management's guidance points to $180B–$190B in CapEx for 2026, with spending expected to increase again in 2027.
The AI buildout continues to accelerate, and the demand cycle for compute, memory, and networking looks strong.
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