Google invests $15bn in Finland and secures 500 MW power from Soviet-era nuclear power plant till 2050

Alphabet (GOOGL) reported strong Google Cloud growth in Q2 2026, with revenue up 82% YoY to $24.8B and operating income more than tripling. However, capital expenditures nearly doubled, exceeding operating cash flow. Investors are divided on whether the stock's lagging performance presents a buying opportunity or reflects justified caution about AI investment payback.

Amazon and Google signed 20-year deals with Constellation Energy for nuclear power, totaling $4.3B. Amazon secured 690 MW from Calvert Cliffs, while Google's deal covers 11 reactors. Critics question if these agreements will meet data center demand and impact household electricity costs. The Energy Department approved $4.4B in loans for nuclear facilities. Meta, Microsoft, and Amazon have also made significant nuclear power agreements.

Google presented plans for a $14B data center in Palo, Iowa, at an open house. The project includes six buildings, 180-720MW power use, and 180 permanent jobs. Google will invest $14B, generating $170M in tax revenue over 20 years. Water will be sourced from the Cedar River, with no tax breaks requested. Construction may start soon, but land ownership and power details remain unclear.

Microsoft, Alphabet, Goldman Sachs, and 13 other companies have objected to trading tokenized versions of their shares on OKXICE, a 24/7 crypto venue. The SEC's new rule allows such trading, but the companies' concerns include price drift and reputational risks. OKXICE plans to trade tokens for 62 companies, with 16 objecting so far. The objection list is dominated by AI and tech firms, which are particularly sensitive to price volatility and news-driven swings.

Google and Voltus have expanded their agreement to build a 1GW virtual power plant in the PJM grid region, up from 100MW. Voltus will aggregate energy capacity from local businesses and households, funded by Google. The project aims to improve grid reliability and provide economic benefits to participants. According to the companies, this is one of the largest distributed energy portfolios managed by a hyperscale company in the region.

Berkshire Hathaway's new CEO Greg Abel has allocated 32% of its $364 billion portfolio to Apple, Alphabet, and Bending Spoons, focusing on AI-linked stocks. Apple, at ~22% of the portfolio, reported Q3 2025 revenue of $109.4 billion, up 16% YoY. Alphabet's stake was tripled, with plans for $200 billion in data center spending. Bending Spoons' weighting is undisclosed.