Alphabet Bolsters AI Outlook With TPU Independence From NVIDIA

Alphabet shares hold near $358 as the company accelerates its proprietary TPU chip strategy to reduce NVIDIA dependence. The $80-85 billion equity raise anchored by Berkshire Hathaway funds 2026 capex of $180-190 billion, while Google Cloud delivers 63% YoY growth and a $460 billion backlog. Multiple analysts raised targets, including Citizens at $515 and Piper Sandler at $445, with Moody’s calling the raise credit-positive and leverage steady near 0.7x.