12:25 PM EDT, 04/26/2024 (MT Newswires) -- Alphabet's (GOOG) Google ( GOOG ) will invest $3 billion in data center campuses in Virginia and Indiana, Chief Investment Officer Ruth Porat said Friday in a blog.

The company plans to spend $1 billion to expand three existing Virginia data center campuses and $2 billion to build a new campus in Fort Wayne, Indiana, said Porat, also the chief financial officer.

Additionally, Google ( GOOG ) announced a $75 million Google AI Opportunity Fund intending to provide 1 million Americans free training on artificial intelligence.

The Institute for Veterans and Military Families and Goodwill are the first recipients of the fund, Porat said.

Alphabet's shares jumped 9.9% in recent trading Friday. The company on Thursday reported a jump in Q1 earnings and revenue and initiated a quarterly dividend.

Price: 173.55, Change: +15.60, Percent Change: +9.87