2026 AI Data Center Capex vs. Financing Comparison:


1️⃣ $GOOG Capex full-year $180–190 billion, financing $80 billion in equity + hybrid securities
2️⃣ $AMZN Capex full-year $200 billion, primarily relying on operating cash flow + conventional bonds + data center leasing
3️⃣ $MSFT Capex full-year $190 billion, using conventional bond issuance + large long-term lease commitments
4️⃣ $Meta Capex full-year $125–145 billion, mainly reducing buybacks + increasing data center leasing
5️⃣ $ORCL Oracle Capex full-year $55.66 billion, planning $40 billion in debt + equity (FY2027)
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