Alphabet shares rose on Wednesday as demand for its custom AI chips outpaced manufacturing capacity. Google Cloud revenue surged 82% year over year in Q2 2026 to approximately $24.8 billion, with a backlog exceeding $514 billion. Alphabet spent $44.9 billion in capital expenditures in Q2 alone and guided full-year 2026 capex to between $195 billion and $205 billion. TSMC’s CoWoS packaging capacity is sold out through 2026 and into 2027, constraining TPU deliveries, while Alphabet is reportedly exploring a partnership with Samsung as a second supplier.
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