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Alphyn Capital Report: Google's Q1 revenue growth exceeded 20%, Google Cloud grew over 60%, and the 2026 capital expenditure guidance was raised to $180-190 billion.
Investment management firm Alphyn Capital Management noted in its Q2 2026 letter to investors that Google (Alphabet Inc.) reported over 20% revenue growth in Q1, with Google Cloud growing over 60% and its backlog nearly doubling. Additionally, Google raised approximately $85 billion through equity financing in June and increased its 2026 capital expenditure guidance to $180 billion-$190 billion. The firm believes that Google's vertically integrated AI technology stack continues to be a tailwind for its core business.
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