---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000852265.md"
description: "$Alphabet(GOOGL.US)The most significant problem for Alphabet investors is spending. Alphabet revised up its full-year 2026 capital expenditure outlook to $195 billion-$205 billion, from the previous range of $180 billion-$190 billion. The company has been investing heavily in its data centers and custom chips as AI demand grows. Q2 capex came at $44.9B, adding to the negative free cash flow of about $5.9B in the quarter. The spending rate is becoming a worry for investors as the cost of depreciation and interest expenses may be eroding margins amid continued demand for AI infrastructure.Alphabet also made a big financing move in early August, as it closed a $22.93 billion senior unsecured bond issue with a range of maturities from 2028 to 2066. The transaction follows a $18 billion equity offering earlier this year, and is paired with a $40 billion ATM share program. The capex is also at a record high, and the decision to pursue more leverage and possible dilution of shareholders has led institutional investors to consider the longer-term opportunity Alphabet believes exists in the field of AI infrastructure. The abovementioned will likely continue to be the biggest bearish concern for Alphabet as their TPUs & Cloud growth tries to sustain the bullish side of the situation. @Captain's Treasure"
datetime: "2026-08-13T05:00:30.000Z"
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  - [en](https://longbridge.com/en/topics/100000000852265.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000852265.md)
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author: "[NewUser_CkrdqW ](https://longbridge.com/en/profiles/16451694.md)"
generator: "portal-rs"
---

# $Alphabet(GOOGL.US)The most significant problem fo…


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## Comments (1)

- **Eunice · 2026-08-13T06:03:13.000Z**: buyback got paused this quarter, that says more than the capex number itself. the 514b cloud backlog is why i still think the debt is fine.


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**