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Google (GOOG) doubled capex to $45 billion in a single quarter as Q2 revenue surged 24% to $120 billion and Cloud jumped 82%.
Trump's wealth-creator pitch ignores that U.S. electricity prices are rising 61% faster than CPI while AI power demand is set to rise 14-fold by 2028.
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On a recent appearance on Laura Ingraham's The Ingraham Angle, President Trump called AI data centers "the oil of the next 50 years," arguing the buildout is delivering wealth and investment to American communities. He singled out Google (NASDAQ:GOOG) for building one in Europe, specifically Finland, and said he "wasn't happy about that." He also claimed the community backlash against data centers was a PR campaign run by China.