Dylan Patel
Aug 25, 2026 Bullish
Google funded its AI buildout by halting buybacks, unlike peers piling on debt.
Google funded its buildout by halting buybacks without much market disruption, contrasted with the debt-funded phase other hyperscalers are entering.
12 month horizon
Aug 7, 2026 Bearish
SemiAnalysis: DeepMind is no longer a frontier lab; Gemini ranked 8th-9th.
"DeepMind is no longer a frontier lab."
6 month horizon
Aug 7, 2026 Bullish
SemiAnalysis projects GCP AI ARR of $73B plus $120B of TPU sales by end-2027, GCP revenue up >100% YoY now.
Gemini ARR ~$12B (Q2'26) against a projected $73B GCP third-party AI ARR + $120B TPU sales by end-2027
said up · 16 month horizon
Aug 7, 2026 Bullish
SemiAnalysis estimates Google's TPU/GCP buildout adds roughly $3 of EPS in 2027.
Estimated ~+$3 EPS to Google in 2027
said up · 16 month horizon
Jun 30, 2026 Bullish
TPUs are objectively strong hardware, running all of DeepMind and Anthropic's pretraining.
"TPUs are objectively strong hardware (they run all of DeepMind and Anthropic's pretraining)."
12 month horizon
Mar 13, 2026 Bearish
Google is getting squeezed on TSMC N3 capacity as Nvidia's share trends toward 70%+ by 2027.
Nvidia "trending toward 70%+" of N3 by 2027; "Google is getting squeezed" because it committed later.
21 month horizon
Feb 28, 2026 Bearish
Google's free cash flow goes to roughly zero in 2027 as capex absorbs every dollar earned.
There's no reason why Google will have any profit, uh, in 27 at all. Right? In terms of cash flow. They will just spend every dollar they make on AI infrastructure.
said down · 22 month horizon
Dec 4, 2025 Bullish
SemiAnalysis: Google's TPUv7 delivers extremely strong performance-per-TCO.
TPUv7 "extremely strong perf per TCO."
12 month horizon
Dec 1, 2025 Bullish
OpenAI already saved 30% on its Nvidia fleet cost purely from the threat of switching to Google TPUs.
"OpenAI hasn't even deployed TPUs yet, and they've already saved 30% on their entire lab-wide NVIDIA fleet."
12 month horizon
Dec 1, 2025 Bearish
Google's TPU engineer attrition to OpenAI hits the next-gen TPUv8, not the shipped TPUv7.
"chip timelines are so long, that didn't affect TPUv7, that's affecting TPUv8."
12 month horizon
Nov 6, 2025 Bullish
SemiAnalysis' ClusterMAX 2.0: Google tops the Silver tier and is on track for Gold or higher.
"Google aims to set the bar and command a pricing premium... on the fast track to Gold-tier or higher."
12 month horizon
Sep 30, 2025 Bullish
Patel says he turned meaningfully more bullish on Google over the prior two years as it began selling TPUs externally.
Turned "meaningfully more bullish on Google over the past two years as it began selling TPUs externally, improved its models, and increased infrastructure investment despite acknowledged internal dysfunction."
12 month horizon