Alphabet completes $35B in acquisitions, doubles capex to $36B, suspends buybacks

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 25, 2025 · ~1 min read

Key Changes

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  Closed $29.5B Wiz acquisition (largest ever) and $5.9B Intersect deal; Google Cloud revenue surged 63% YoY driven by cybersecurity and AI infrastructure expansion.

  MD&A: Business Combinations verify on EDGAR →
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  Quarterly capex more than doubled to $35.7B from $17.2B, with uncommenced data center leases jumping 337% to $75.6B and purchase commitments quintupling to $332.4B.

  MD&A: Capital Expenditures & Commitments verify on EDGAR →
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  Suspended share repurchases entirely (zero vs $15.3B in Q1 2025) to fund acquisitions, $16B Waymo investment, and $40B private company commitment with $30B contingent on milestones.

  MD&A: Capital Allocation verify on EDGAR →