Expanded investment research / Fort Wayne, Indiana

Google Fort Wayne / Project Zodiac

FJI source-qualified: four-document gate met, including project-specific government evidence. Qualification evidence and decisions →

Project status: Google and specialist reporting describe the campus as open; disclosed campus IT load remains unavailable. Capacity scope: $2 billion announced investment; capacity not disclosed. How we verify evidence.

Project and ownership

Alphabet / Google; Indiana Michigan Power. One named campus or explicitly bounded multi-campus development; reported envelopes are not operating IT load.

Power, permits and delivery

Google and specialist reporting describe the campus as open; disclosed campus IT load remains unavailable

Financing and economics

Google announced $2 billion of investment; no site revenue or operating-load disclosure was found.

Investor implications · Our analysis

Public-record evidence narrows development uncertainty but does not establish utilized compute, billable capacity, attributable earnings or a stock recommendation.

What to watch next

Verify operating load, expansion phases and demand-response performance

Risks and unknowns

Operating IT load, utilization, building-level acceptance and attributable economics remain undisclosed.

Sources and verification

Four project-specific sources reviewed, including at least one public-agency record.

  1. Company campus disclosureGoogle

    Google’s Indiana location page records groundbreaking and the Fort Wayne campus.

  2. State government announcementIndiana Economic Development Corporation

    Indiana economic-development officials announced the $2 billion project.

  3. Local government recordCity of Fort Wayne

    Fort Wayne records the April 26, 2024 groundbreaking and project-specific community information.

  4. Independent specialist reportingDatacenterDynamics

    DCD reported the $2 billion campus as operational while noting capacity was not disclosed.

Reviewed October 7, 2026 · Source audit

Company investor information & quarterly statements

Alphabet

Alphabet / Google; Indiana Michigan Power

Official investor & shareholder information · Quarterly financial statements: 2026 Q2, quarter ended June 30, 2026

Corporate disclosures provide company-wide context. They do not establish this project’s revenue, spending, profit, ownership share or operating capacity. Disclosure verification records →

Scoped FJI evidence check · October 16, 2026

Target: Initial $2bn project announced/broke ground April 26, 2024; no full-campus final target in selected scope.

Dated evidence: Operational facility reported December 11, 2025 and retained on operator page; not all contemplated buildings.

Still open: Actual IT MW, accepted building count, capex spent and load ramp unverified. Future additional buildings not treated as operating.

Sources: Google · Indiana Economic Development Corporation · DatacenterDynamics

Field-level review; original whole-profile dates and readiness classification retained. FJ Intelligence record →

Company research: documented roles

Follow the company profile for financial context. The evidence supports the specific role described here.

Role evidence does not establish project revenue, ownership economics, accepted capacity or a percentage of company sales.