Alphabet set for earnings beat as Cloud and AI chips take centre stage

The FTC issued subpoenas to OpenAI and Anthropic on Oct. 15, investigating potential consumer-protection violations. Microsoft, Amazon, and Alphabet hold stakes valued at around $554 billion combined. The probe could impact future valuations and IPOs, with Amazon already reporting gains from its stake.

Microsoft, Alphabet, Goldman Sachs, and 13 other companies have objected to tokenized versions of their shares being traded on OKXICE, a joint venture between OKX and ICE. This brings the total number of objecting issuers to 16, highlighting challenges for the SEC's tokenized-stock framework.

Hermantown City Council reviewed a 50-year framework for Google's proposed data center, backed by a $210 million parent-company guarantee. The agreement requires Google to restore the site if operations halt or tax payments lapse, and covers well damage for neighbors. A final vote is scheduled. According to city staff, Google's finances are directly tied to the agreement.

The U.S. Department of Energy is providing up to $4.4 billion in loans to restart three shuttered nuclear plants in Michigan, Pennsylvania, and Iowa. Microsoft and Google have signed long-term agreements to purchase electricity from two of the plants, aiming to meet growing demand from AI data centers. The restarts face safety concerns and delays, with operations expected to resume between 2027 and 2029.

Google's 1-gigawatt hyperscale data center in Van Buren Township, Michigan, received final approval. The project, expected to draw power by late 2027, secured a 20-year energy contract with DTE Energy. Local officials praised Google's community engagement, while residents raised concerns about construction impacts. The facility may benefit from tax breaks and require Google to pay for renewable energy and energy storage.

The U.S. is investing up to $4.4B to restart three shuttered nuclear plants, including Palisades (MI), Crane (PA), and Duane Arnold (IA), to meet rising energy demand. The plants will provide 2.25GW of carbon-free electricity, with contracts from Big Tech firms like Google and Microsoft for data centers. Restarting is seen as quicker and cheaper than building new reactors, but experts warn of safety risks and climate change impacts.