Alphabet's SpaceX Stake Grows as Wall Street Trims Its Targets and Google Bets $17 Billion on Wyoming
Published on 11/08/2026 at 17:52 | Editorial boerse-global.de
Alphabet nudged up its holding in SpaceX to roughly 555 million shares from 551.2 million previously, Reuters reported Friday, citing the company's disclosed positions. The same filing revealed a fresh stake in Qualcomm: nearly 3 million shares worth $547.9 million as of September.
The disclosures came in a mandatory 13F-HR filing submitted Thursday, which listed 31 positions with a combined value of about $88.3 billion for the quarter ended September 30. That figure captures the portfolio as it stood at quarter-end, not how the holdings have moved since.
Capital Plans Stretch From Cheyenne to the Bond Market
Google's infrastructure ambitions are running in parallel. On Thursday the company announced a $17 billion investment in its first data center in Wyoming, to be built in Laramie County, according to Reuters. Google is teaming up with Tallgrass Energy, Black Hills Energy, American Electric Power and Related Digital on the project. Reuters also reported Friday that Google has already closed on the southeastern Wyoming land, buying the parcel from Crusoe — the purchase is done, while the data center spend is so far only announced.
Financing is taking shape too. Bloomberg reported that Alphabet is lined up as the recipient of a planned energy-prepayment bond worth $1.5 billion, with the California Community Choice Financing Authority as issuer and Goldman Sachs arranging the placement.
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None of this signals a retreat from spending. Alongside its Q3 2026 results roughly two weeks ago, Alphabet reaffirmed full-year 2026 capital expenditure guidance of $195 billion to $205 billion.
A Quarter That Beat on Revenue but Not on Profit
The top line was strong. Revenue came in at $127.6 billion, up 25% year on year. Google Cloud jumped 103% to $30.7 billion, while search and other advertising revenue rose 12% to $63.3 billion.
Profit fell short of expectations, though, and the stock slid sharply on the day of the report. Media coverage pointed to worries about slower-than-expected search growth and rising AI-related cash outflows as the drags on sentiment.
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Two Analysts, Two Lower Targets
The reassessment on Wall Street has been steady. Wells Fargo's Ken Gawrelski cut his price target to $365 from $371 on November 2, keeping an "Overweight" rating. Bernstein's Mark Shmulik had moved earlier, on October 29, taking his target down to $325 from $385 while sticking with "Market Perform" — effectively a hold.
The two calls bracket the debate: one house still sees upside, the other is content to wait, and both have marked their numbers down as the bill for AI infrastructure climbs.
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