Key Takeaways
- Google plans to invest $25 billion in artificial intelligence infrastructure in the Mid-Atlantic region and other areas over the next two years.
- The company also agreed to purchase $3 billion in hydroelectric power in the region.
- Google is expected to announce the investments at the Pennsylvania Energy & Innovation Summit on Tuesday.
Alphabet’s (GOOGL) Google plans to invest $25 billion in artificial intelligence infrastructure in the Mid-Atlantic region and other areas over the next two years.
Google will announce the investment at the Pennsylvania Energy & Innovation Summit on Tuesday, a spokesperson told Investopedia. President Donald Trump, Pennsylvania Gov. Josh Shapiro, and other lawmakers are expected to attend the event, which is being held at Carnegie Mellon University in Pittsburgh.
Additionally, Google announced a deal to purchase $3 billion in hydroelectric power in the PJM electric grid region from Brookfield Asset Management (BAM). Google will invest in modernizing two Brookfield facilities as part of the deal, the companies said, which “supports Google’s ambition to power its operations with 24/7 carbon-free energy.”
Ruth Porat, Alphabet’s chief investment officer, is attending the energy summit.
“Google’s investments announced today will increase energy abundance and empower Americans with the skills needed to thrive in the AI era,” Porat said in a statement. “We support President Trump’s clear and urgent direction that our nation invest in AI infrastructure, technology, and the energy to unlock its benefits.”
Also attending the Pennsylvania Energy & Innovation Summit is CoreWeave (CRWV), which is expected to announce a $6 billion investment in a new AI data center in the state.
Shares of Google were little changed in recent trading Tuesday. The stock is down 3% for 2025.
Source link
