Alphabet has outlined roughly $650 billion in capital expenditures for 2026 to expand its AI compute capacity and data-center network. This spending boost targets higher demand for advanced semiconductor chips and supporting infrastructure, underpinning the company’s long-term AI leadership strategy.

Helium is critical for semiconductor cooling, leak detection and high-precision manufacturing processes. Roughly 84 percent of the world’s helium supply comes from the United States, Qatar and Russia, making the market prone to regional disruptions.

On March 18, missile strikes on Qatar’s Ras Laffan Industrial City triggered force majeure declarations on long-term LNG contracts and damaged facilities that produce about one-third of global helium. Repairs could take up to five years, risking production losses of $20 billion annually.

In April, Russia imposed export restrictions on helium through the end of 2027 to secure domestic supplies for fibre-optic components in military drones. Combined with Qatar’s outage, these actions have created a bottleneck in helium availability, threatening to delay data-center builds and chip fabrication schedules.