Google is investing $15 billion to build an artificial intelligence data center campus in New Florence, Missouri.
The facility will cover more than 900 acres adjacent to a planned $35 billion Amazon data center.
Ameren will provide over 1.5 gigawatts of energy capacity through a new utility partnership.
Alphabet committed $20 million to an Energy Impact Fund for local household energy efficiency.
Alphabet raised its 2026 capital expenditure target to $190 billion.
Investors are monitoring how these infrastructure costs impact long-term profit margins.
Alphabet shares rose 0.40% to approximately $390.48 following the announcement.