Google Takes Over Crusoe's Wyoming Site as Cloud Revenue More Than Doubles

Google has acquired Crusoe's unfinished data-centre site in southeastern Wyoming, Crusoe confirmed on Wednesday, with the purchase price left undisclosed. The move puts Alphabet squarely in charge of executing a build-out it had already committed to at enormous scale — and follows internal concerns reported by TechCrunch over the cost and construction timeline under Crusoe's management.

The handover caps a week in which the company also wrapped a EUR 6 billion bond sale, reported quarterly revenue of $127.58 billion and watched its shares add 1.9% to €256.65.

From site selection to steel and power

Crusoe's pre-development work on the Laramie County project, near Cheyenne, is now at an end. That work covered site selection, permitting and a power-supply strategy drawn up jointly with Tallgrass Energy, with whom Crusoe had originally developed the project.

Thursday's announcement of up to $17 billion in long-term investment in what will be Google's first Wyoming data centre came without a construction start date or a completion target. Owning the site gives Google more direct control over how that pledge is translated into buildable phases — though the absence of a firm schedule remains a material unknown for anyone trying to value the project.

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Crusoe is not exiting the relationship entirely. It continues to develop a campus in Armstrong County near Amarillo, Texas, for Google, so the Wyoming sale ends the partnership at one location while the other carries on.

Fuel cells, gas turbines and a 20-year power contract

The first phase is slated to run on a 702 MW fuel-cell project. According to media reports, a facility operated by AEP will supply Google under a 20-year take-or-pay contract. Google names Tallgrass Energy, Black Hills Energy and Related Digital as partners on the site.

Google has said it will pay for all electricity consumed and for the infrastructure that growth requires. Air cooling is planned to curb water use — a direct response to the strains large data centres can place on host communities.

Crusoe describes the power strategy as a blend of fuel cells, grid electricity and natural-gas turbines, with carbon capture through Tallgrass's regional storage hub envisaged over the longer term. For the Tallgrass turbines, however, capture remained the subject of a technical study.

The supply blueprint can underwrite the expansion only if the plants are ready on time. Committing to cover costs and signing a long-term power contract raises the stakes on utilisation: the economics of the later phases depend on the site filling up.

A $51.4 billion quarter and negative free cash flow

Capital spending reached $51.4 billion in the third quarter of 2026, against free cash flow of minus $9.1 billion — the backdrop against which the Wyoming purchase lands. Buying the site shows Google pressing ahead with the build-out despite that strain.

The quarter itself, reported on 28 October, showed revenue of $127.58 billion, up 25% year on year. Google Cloud brought in $30.7 billion, a 103% jump that outpaced group growth by a wide margin. Diluted earnings per share came in at $2.12, with capital expenditure for the period stated at $51.36 billion.

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Financing has been readily available. The seven-tranche euro bond, launched on Monday with maturities running from two to 19 years, drew investor demand above €17 billion against the €6 billion on offer. Proceeds are earmarked for general corporate purposes, including possible repayment of debt.

Buyouts widen beyond the original footprint

Alongside the spending, Google has extended voluntary severance offers to selected employees in Canada, France, Germany, Japan and Switzerland, Reuters reported on Wednesday. The Alphabet subsidiary confirmed the offers, which began in June, but the news agency could not establish how many staff had accepted. The programme covers chosen employees rather than entire workforces in those countries.

For investors, the Wyoming acquisition pays off only if Google can bring construction costs, energy supply and schedule together. The next hard milestone would be a detailed construction plan that turns a long-term investment pledge into checkable steps.

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