Ahead of Q1 Earnings, Alphabet Maintains $175–185 Billion Capex Range; Bitcoin Link Tightens to 0.75
Alphabet has maintained a $175–185 billion capital-expenditure outlook for 2026 ahead of its April 29 Q1 results, as hyperscaler AI spending is set to exceed $160 billion this quarter. Bitcoin's rolling correlation with the Nasdaq climbed to 0.75 in January, raising the risk of direct contagion from any earnings surprise.
1. Upcoming Q1 Earnings Focus
Alphabet will report Q1 2026 results on April 29 after the closing bell, with investors homing in on revenue growth, profit margins and AI capital expenditure plans for the year ahead.
2. 2026 Capex Guidance Maintained
Management confirmed a $175–185 billion capital-expenditure range for 2026, matching its prior outlook and underscoring continued investment in data centers, AI infrastructure and cloud services.
3. Industry AI Spending Context
Combined AI and cloud infrastructure spending by Alphabet, Microsoft, Amazon and Meta is poised to exceed $160 billion this quarter, highlighting an escalating technology arms race among hyperscalers.
4. Bitcoin Correlation Risk
Bitcoin’s average rolling correlation with the Nasdaq 100 reached 0.75 in January, suggesting that any surprise in Alphabet’s earnings or capex outlook could directly impact cryptocurrency markets.