Alphabet's Q1 2026 Capex More Than Doubled to $35.7 Billion

Alphabet spent $35.7 billion on capital expenditures in Q1 2026, per its SEC filing — more than double Q1 2025's $17.2 billion. One quarter already tops 56% of the $63.6 billion spent across the first nine months of 2025. Alphabet's FY 2025 10-K says it expects to "significantly increase" 2026 infrastructure investment. Capex — spending on physical assets like data centers — signals how aggressively the company is building.