Shreya Murthy

$40 billion is for infrastructure.

But I suspect that the equity check for a meta-like SPV structure will be levered 5 to 6x.

In other words, the spending implications are much greater than the headline.

Can't believe it's only Monday.

So they're going to take $40 billion, lever that up across their infrastructure efforts, and put something closer to $200 billion to work over the next year.

And that pays for their CapEx bill for probably just next year.

because they'll probably be around there in like the AWS tier, especially on the back of that Google Cloud growth.

It's growing faster than AWS, growing faster than Azure.

So lots of reasons to spend, spend, spend.

John, they're saying we need a L'Oreal ad read from John.

Okay.

That new hair.

Shout out L'Oreal.

I like that company.

They're a great, great team.

Anyway, Google raising $80 billion in equity, more compute, more AI spend, full send downrange.

Jack Raines says, the gigabrain move by Google is sucking up some of the AI demand via equity issuance instead of debt.

Before Anthropic and OpenAI go public, we'll see what happens.

We'll see how much demand is out there.

SpaceX is going out in just a couple weeks, so we'll see how that goes.