Key facts
- Norges Bank Investment Management will back a shareholder resolution for greater transparency on Alphabet's government AI contracts.
- The resolution, Proposal 11, is backed by over 40 investors managing $1.15 trillion in assets.
- Investors seek a report on how governance gaps could lead to Google's products facilitating surveillance, censorship, profiling, and targeting.
- Project Nimbus, a $1.2 billion contract with the Israeli government, is cited as an example of a potentially misaligned contract.
- Alphabet has recommended shareholders vote against the resolution, stating it has robust data privacy and security frameworks.
Norges Bank Investment Management, the world's largest sovereign wealth fund, will back a shareholder resolution calling for greater oversight of Alphabet's government AI contracts. The resolution, Proposal 11, is led by Zevin Asset Management and supported by a coalition of over 40 investors managing $1.15 trillion in assets, collectively holding approximately $2.2 billion in Alphabet shares (less than 1% of outstanding shares). The investors seek a report evaluating how governance gaps in Alphabet's policies and oversight of customer data could lead to its products facilitating surveillance, censorship, profiling, and targeting, particularly in contexts of governmental overreach. Project Nimbus, a $1.2 billion cloud computing contract with the Israeli government, is specifically cited as an example where Google's products might not align with its data governance principles. Concerns have been amplified by Alphabet's revision of its AI Principles in 2025, which critics argue weakened previous pledges against developing technologies that cause harm. Alphabet has recommended shareholders vote against the resolution, asserting it has robust data privacy and security frameworks.