Microsoft, Alphabet, and Meta used their second-quarter earnings to signal a turning point in the AI infrastructure race. CEO Satya Nadella said the company opened 31 data centers during the quarter and 88 during fiscal 2026 across five continents, while adding roughly 1 GW of AI capacity. Cobalt 200 racks are being deployed in more than 25 data centers. Alphabet Treats AI Infrastructure as a Long-Term Growth EngineAlphabet raised its 2026 capital expenditure outlook to between $195 billion and $205 billion after Google Cloud revenue rose 82% year over year. “Google Cloud revenues accelerated to 82% growth, driven by demand for AI infrastructure and AI solutions.”