$GOOGL

Interview with a $GOOGL employee who thinks we still have at least five more years of strong capital deployment ahead in the AI buildout: 1. The expert sees the AI data center build cycle as roughly at the halfway point, with the buildout expected to continue through 2035 before the next architectural shift. The current phase is transitioning from training-heavy investment to inference, and the expert sees at least five more years of strong capital deployment ahead. On the shape of spending, the expert expects the composition to shift rather than the total to decline, with heavy hardware investment dominating through 2027 and 2028 before giving way to a larger proportion of software and operational spend as AI becomes more of a commodity. 2. He emphasizes that the shift from training to