Alphabet Plans Record Spending in Race to Win AI Customers

Alphabet Inc. topped projections for quarterly revenue and outlined an ambitious capital spending plan, far surpassing predictions, leveraging its growth to build out the data centers and infrastructure needed to lead in the AI age.

Google’s parent company said capital expenditures will reach as much as $185 billion this year, compared with the $119.5 billion analysts expected. Fourth-quarter sales, excluding partner payouts, were $97.23 billion, surpassing the $95.2 billion average estimate, according to data compiled by Bloomberg.

Expected spending for 2026 will total more than what the internet search giant spent in the three prior years combined. But Chief ...