Google, a subsidiary of Alphabet Inc. (GOOGL), recently announced an investment plan of $25 billion in artificial intelligence infrastructure development in the Mid-Atlantic region and beyond, over the upcoming two years.
This hefty investment news is set to be announced at the Pennsylvania Energy & Innovation Summit, according to a spokesperson. The event held at Carnegie Mellon University in Pittsburgh is expected to see attendance from President Donald Trump, Pennsylvania Governor Josh Shapiro, and other prominent lawmakers.
Google also disclosed a deal that involves buying $3 billion worth of hydroelectric power from Brookfield Asset Management (BAM) in the PJM electric grid region. As part of this agreement, Google will take part in modernizing two Brookfield facilities. The firms declared that this move aligns with Google's ultimate desire to power its operations constantly with energy free of carbon.
Alphabet’s Chief Investment Officer, Ruth Porat is scheduled to attend the energy summit. Porat in her statement mentioned, "Google’s investments unveiled today will boost energy sufficiency and equip Americans with the critical skills necessary to excel in the AI age."
The same summit is expected to witness CoreWeave (CRWV) announcing a substantial $6 billion investment for a new AI data center in Pennsylvania.
Despite the grand investment announcement, Google stocks did not see significant change in the recent trading Tuesday, with the stock being down by 3% for 2025.