The Alekhine variation of the exchange variation in the Ruy Lopez, after 1.e4 e5 2. Nf3 Nc6 3. Bb5 a6 4.Bxc6 dxc6, is 5.d4 immediately challenging the center. The ideas again are very similar to the other main variations following the Ruy Lopez exchange. This variation is considered inferior to 5.0-0, as theory and practice has shown that white is better, after 5.0-0 followed by d4. It reaches again a tactical rather than positional advantage, but the position before the fifth proves that white has the time and space to improve his position before the move d4 is made. It is rarely seen at high level games these days. This is why it does not really require deeper analysis. Take a look at the next diagram:
I have included a game where white applied the move 5.d4 so early. Again play is drawish if handled correctly by both sides.