AI tailwinds: Google, SpaceX, TX & GA

Author

Shai Goldman
August 11, 2026

Happy Tuesday Brex Community,

Some pretty impressive results from recent earnings from Google and SpaceX. In addition, a great visual from NY Times on upcoming data center projects. TLDR, their continues to be a lot of strong momentum for AI.

See Google deck from their July 22nd earnings release. Main highlight: Google Cloud revenue is accelerating, growing a 82% year over year for Q2 and at a $100B revenue run rate 👀

SpaceX deck from their earnings release on Aug 4th.

SpaceX AI business is growing quickly as well and this does not include the Cursor revenue, as the acquisition has not closed as of yet.

There a lot of data centers being planned in the near future, despite some of the regulatory/political headwinds in some states (mainly coastal), both Texas and Georgia have a lot of impressive momentum 🚀

Have a great week!

Hey everyone, let's dive into some awesome news from the venture capital world that is all about making family life a little easier. Magnify Ventures, an early stage venture capital firm co-founded by Joanna Drake and Julie Wroblewski, just closed its second fund at $46.6M.

If you have not heard of Magnify before, they are completely dedicated to transforming the care economy. And they have some serious backing. Melinda French Gates and her organization, Pivotal Ventures, returned as a key investor for this second round. They are also joined by new backers like Jordan Park, Unum, and California's IBank. With this new fund, Magnify's total capital sits at ~$100M.

So what exactly are they planning to do with this new capital? They are going all in on artificial intelligence. Magnify wants to invest in AI infrastructure companies that are reshaping health, wealth, and family care. We are talking about tech that reduces the invisible labor of running a household, smart tools that improve home health systems, and platforms that help families build and protect their finances.

The care economy is a massive $648B market that covers everything from pregnancy to aging and end of life care. Amazingly, venture capital interest in this space has surged by 45 percent over the past four years. It is incredibly refreshing to see investors recognizing that funding caregiving solutions benefits families, women, and the broader economy all at once.

It will be super exciting to see the innovative startups Magnify Ventures backs next. They are targeting an area that has been under-resourced for decades, and putting AI to work here could genuinely change how we live and care for each other.

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