Alphabet Inc. Shareholder Sues Over Gemini 3.5 Pro Launch Woes

The Federal Energy Regulatory Commission designated Google Energy as a Category 2 wholesale electricity seller in the PJM market. Google's power generation capacity exceeded 500 MW, requiring periodic reports to prevent market manipulation. The company is investing $25B in data centers and power projects, including a $4.3B nuclear power deal and a $3B hydropower upgrade. Competitors Amazon and Microsoft are also securing power supply agreements in the PJM market.

Alphabet's Google (GOOGL) introduced a universal Gemini agent for enterprise AI, aiming to handle various tasks from a single interface. Google Cloud's AI revenue reached $24.8B in Q2, up 82% YoY. Nearly 80% of Google Cloud customers now use AI products, with 90% of Fortune 100 companies using Gemini Enterprise. The company is developing industry-specific versions and integrating Gemini across its software stack.

Alphabet GOOGL introduced a universal Gemini agent for knowledge work, content creation, and code execution. Shares rose to $347.77. Google claims 80% of Cloud customers use its AI, 90% of Fortune 100 use Gemini Enterprise, and 500 customers processed over 1 trillion tokens. The agent integrates with Workspace, Microsoft 365, and Slack. Shares trade at a 36.99% premium to GF Value estimate.

Constellation Energy and Google will add 890 MW of capacity to 11 nuclear plants by 2033, investing $4.3B. The project aims to boost clean energy output in the PJM Interconnection. Constellation expects to complete the first uprate by 2028, with the Limerick and Salem plants receiving significant boosts. The initiative is part of a broader effort to increase U.S. nuclear capacity without new reactors.

Alphabet's Waymo closed a $5 billion term loan, its first debt financing, with PIMCO, Blackstone, and others as lenders. The funds support Waymo's robotaxi expansion into more U.S. cities and Singapore. Waymo previously raised $16 billion in equity at a $126 billion valuation. The debt allows expansion without additional equity but introduces financing obligations.

Waymo, Alphabet's self-driving unit, secured a $5bn term loan to expand its robotaxi services. The loan was led by PIMCO, Blackstone, and others. Waymo has been under regulatory scrutiny for safety issues. Alphabet shares fell 1.1% on Thursday, but the loan is not linked to the price drop.