Alphabet's Porat Pegs 2026 AI Capex Near $200B at Fortune MPW Summit, Signals Bigger 2027

Alphabet president and chief investment officer Ruth Porat told Fortune's Most Powerful Women Summit in Santa Barbara on Monday that the company will spend about $200B on AI capacity in 2026 — above its official $180B-$190B capex guidance — and expects capex to 'increase significantly' in 2027 as compute demand outruns supply. She framed the buildout as 'an opportunity that extends for quite some time' and warned the industry must 'collectively fortify the downside risk' of AI, pointing to 71% public opposition to local data centers as a constraint companies must manage.