Google

What Google does

Google is the largest business of Alphabet, its parent company. Alphabet's annual report reports Google in two segments. Google Services includes Search, YouTube, Android, Chrome and Google Maps. It makes its money mainly from advertising. Google Cloud sells infrastructure, platform services and applications to business customers.

Google was incorporated in California in September 1998. A reorganization in 2015 made Alphabet its holding company. Sundar Pichai is chief executive of both. Alphabet shares trade on Nasdaq.

Alphabet's revenue was $402.8 billion in 2025, up 15% from 2024. It had 198,933 employees on June 30, 2026, according to its second-quarter results.

Why its data centers matter

Google's products and AI models run on what the annual report calls technical infrastructure. That means servers, network equipment and data centers. The report says Alphabet owns and leases data centers around the world, mainly in Asia, Europe and North America. Google also uses its own custom-built AI chips, called Tensor Processing Units.

Spending on this has grown quickly. Alphabet's capital expenditures were $91.4 billion in 2025, up from $52.5 billion in 2024. The annual report says they mainly reflected technical infrastructure. In the first half of 2026, Alphabet bought $80.6 billion of property and equipment. In June 2026 it raised net proceeds of $49.6 billion by issuing common and preferred stock. It said the uses include capital spending to scale AI infrastructure.

Google has announced several large regional plans:

• Texas. A $40 billion investment through 2027, including new data center campuses in Armstrong and Haskell counties.
• India. About $15 billion from 2026 to 2030 for an AI hub in Visakhapatnam.
• Finland. Plans to invest at least 13 billion euros in 2027 and 2028.

These figures are the company's own. Power is part of the plans. In Texas, Google said in November 2025 that it had contracted more than 6,200 megawatts of new generation and capacity through power purchase agreements.

In December 2025, Alphabet agreed to buy Intersect for $4.8 billion in cash plus the assumption of debt. The annual report describes Intersect as a provider of data center and energy infrastructure. Alphabet's quarterly report says the deal closed on March 10, 2026. It gives the price as $5.9 billion after purchase price adjustments.

Recent developments

Finland. On October 6, 2026, Finland's Supervisory Agency sent a formal request to Tuike Finland Oy. CNBC and Yle describe that company as a Google subsidiary. The agency told it to stop site work at planned data centers in Muhos and Kajaani by October 23. The pause is to last until environmental impact assessments are finished. A Google spokesperson told CNBC the company had "fallen short of our own high standards in this instance." The spokesperson said Google would follow the agency's guidance.

Nuclear power. Also on October 6, Google announced an agreement with Constellation Energy. Google says the power purchase agreement supports upgrades at 11 of Constellation's nuclear reactors. It says the upgrades will add 890 megawatts to PJM, a grid spanning 13 states.

What to watch

• Finland. The developer's written explanation to the agency is due October 14, 2026. The agency's release says the assessment reports are estimated to be finished during 2026.
• Spending. The annual report says Alphabet expects to significantly increase its technical infrastructure investment in 2026.
• Nuclear power. Google says the Constellation upgrades will deliver the 890 megawatts before the end of 2032.