I would invest 1/4 in stocks and the rest I will place them in various mutual funds and time deposits.
I'd spend it all in one shot... 1. Build a datacenter with 60 servers and set aside some for advertising 2. pay any debts off 3. Donate to my church since they're building a community center for once.
invest half other half for family business for house for car house needs for my youngest sister college and etc....