JPMorgan: Google 2027 Capital Spending Could Boom Near $400 Billion

Google posts negative cash flow for 1st time since IPO

Alphabet reported first negative FCF since IPO ($5.9B Q2) with AI capex at $44.9B; annual capex raised to $195-205B. Cloud revenue +82% YoY cannot offset capex surge, and Gemini delay vs OpenAI signals competitive risk: IT leaders must reassess AI cost-of-ownership and governance frameworks.