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Big Tech CapEx has reached unprecedented levels:
The combined CapEx of Amazon, $AMZN, Google, $GOOG, Meta, $META, and Microsoft, $MSFT, is expected to surge +98% YoY, to a record $715 billion in 2026.
This is nearly 3 TIMES the amount spent in 2024 and more than 5 TIMES 2023 levels.
Amazon now expects CapEx to approach a record $200 billion this year.
This is followed by Google and Microsoft which are both guiding $190 billion in CapEx for 2026.
Meta has also raised its expectations by +$10 billion to $125-$145 billion.
To put this differently, each company is projected to spend nearly as much in 2026 as they did in the previous 2 years combined, or more.
The AI Revolution is set to accelerate.
$GOOGL
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$AMZN
{future}(AMZNUSDT)
$META
{future}(METAUSDT)