I think the words are going over your head sorry. I will try one more time but realize now it might be too much especially see some of your dead comments here.

I am not claiming a transition is happening in this round, so asking for evidence of one misses the point. Transition here means enabling future shifts in who owns and operates the capex, not changing the cap table today. If Alphabet wanted permanent full-stack ownership, an entirely internal recap would have been cleaner. Bringing in outside capital, even minority, is about signaling and optionality, not dilution.