Seeking Alpha upgrades Alphabet (NASDAQ:GOOG), citing off-grid energy strategies and commercial strength as key drivers.

Alphabet has been upgraded to a Strong Buy, driven by overlooked long-term AI infrastructure and merchant silicon strategies. GOOG’s off-grid data center buildout and dark fiber network with Verizon unlock stranded energy, lowering OpEx and boosting ROIC beyond 25%-40%.

The transition to merchant silicon, including TPU exports and Axion CPUs, derisks $205B CapEx and targets $84B–$108B in new cloud revenue by 2027/28. Despite near-term margin pressure and negative FCF, the 2028 price target is $477, with 38% upside as AI, cloud, and agentic coding scale.

asbe/iStock via Getty Images. In my last article on Alphabet's ( GOOG ) ( GOOGL ) ( GOOGN ) ( GOOGM ) stock, I downgraded it to a Hold based on a strategic tension between a long-term AI moat and 2.09K Followers.

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