It's unclear from the article whether Google endowed the award to a sustainable level of $1M/year, or is just supporting it at that level for now. Clearly an endowment would make a stronger statement.
There's a suggestion that it was not an endowment, because of the note that Intel stepped away from sponsorship.
(In the current environment, to get interest of $1m a year would require a very large endowment - something like $30m+ - and you'd think that would be mentioned prominently.)
The Economics Nobel was not one of the original prizes, but it too was endowed, by the Bank of Sweden. Apparently the Bank also gives an annual contribution, approximately equal to the prize amount ($1M), to administer the prize.
There's a suggestion that it was not an endowment, because of the note that Intel stepped away from sponsorship.