Most of Google’s bought GPUs are still in warehouses, not datacenters

SumitGup · x · 2026-07-23

Google’s GPUs are still sitting in warehouses until the company finishes building the datacenters needed to bring them online, so the chips do not start depreciating in practice until deployment.

The post says this dynamic applies more broadly to hyperscalers and neoclouds: the timing of capex recognition and depreciation lags behind the actual hardware purchases.

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