Alphabet pours $75 bn into AI

Ilya Sutskever’s SSI now valued at 32 billion

Author

Algot Persson
April 12, 2025

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In Today’s Issue:

  • Alphabet pours $75 bn into AI

  • Ilya Sutskever’s SSI now valued at 32 billion

Read time: 3 minutes

Alphabet pours $75 bn into AI

Alphabet is going all-in on AI infrastructure, confirming plans to spend a staggering $75 billion in capex this year. Most of that is earmarked for building out data centers, expanding server capacity, and scaling custom AI chips—all to power its core services (like Search) and fuel its flagship models under Gemini.

CEO Sundar Pichai reaffirmed the commitment during recent calls with investors, saying the scale of investment reflects both the demand for AI and the computational intensity needed to deliver it at Google scale.

Investors are watching closely. The market wants to see returns from Gemini and related AI products, especially as the company ramps up spending to compete with Microsoft, OpenAI, and Amazon.

Is deep cash enough for Google to build the best AI, without outside help? Seemingly so.

Sundar

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Ilya Sutskever’s SSI now valued at 32 billion

Ilya Sutskever

Financial Times announced that SSI received a $2 billion investment, putting the startup’s valuation at $32 billion. Ilya Sutskever, one of the brains behind OpenAI’s legendary GPT-3, co-founded the company in June 2024 alongside Daniel Gross (formerly Apple’s AI lead) and AI researcher Daniel Levy. The round was led by Greenoaks with a $500 million contribution, and included participation from Lightspeed Venture Partners and Andreessen Horowitz. SSI had previously raised $1 billion at a $5 billion valuation in September.

In yesterday’s issue, we covered Sutskever’s former colleague Mira Murati and her new startup, Thinking Machines Lab. The two were part of a failed attempt to oust Sam Altman at OpenAI—now, both are building deca-unicorns without a product (!).

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