【Alphabet Financial Anatomy Part 2】: Total Assets $920 Billion — Doubling on-hand Liquidity and AI Hardware Strategy Indicated by "3x TPU Inventory Surge"
ICHIRO|Financial Statements Anatomy Lab
In the first installment, we dissected the structure of net income quadrupling driven by Google Cloud’s rapid growth and the “unrealized gains of SpaceX stock revaluation totaling $99 billion.”
In the second installment, we delve into the depths of the balance sheet (B/S).
As of the end of June 2026, total assets reached $9,219,800 million (about $9,220 billion/over ¥140 trillion), approaching the trillion-dollar mark. We will dissect the strategic shift behind the rapidly accumulating cash on hand and the stark standout on the B/S—“inventory rose by more than 300%.”
Past articles here?