Alphabet Raises $80B AI Capex as Blackstone JV Scales TPU Cloud

Alphabet plans to raise roughly $80 billion for AI investments, boosting data-center and TPU supply-chain stocks. The move follows the May 19 launch of a Blackstone-backed joint venture that will commercialize Google TPUs as a standalone compute-as-a-service business. Blackstone committed $5 billion for majority control, targeting 500 megawatts of capacity by 2027 and a $400 billion AI-cloud market by 2031. The venture intensifies competition with Nvidia GPUs and neocloud providers such as CoreWeave. Earlier momentum included Google Cloud’s 63% YoY surge to $20 billion and a $200 billion Anthropic commitment.