Google Inc. is accumulating mounds of cash from operations, so how is it going to manage cashflows now?

At the Morgan Stanley Technology Conference, Eric Schmidt ruled out big mergers and acquisitions. Currently Google invests heavily in huge data centers and networks to expand the range and depth of its Web services. In 2006, Google purchased the most popular Video Sharing site YouTube for a whopping $1.65 billion. What’s left to invest in? If other big companies are going to Google, should Google bother to go to other companies? If yes, where?

Initially risks were taken and they paid off, now its time to retain the numbers that investors are clinging on to.