AI hyperscalers to spend $828 billion on capex in 2026

businessinsider.com —

Major AI hyperscalers—Amazon, Alphabet, Meta, Microsoft, and SpaceX—are projected to spend between $803 billion and $828 billion on capital expenditures in 2026, with executives pledging further increases in 2027. The five companies spent roughly $227 billion in Q3, a 20% rise from the prior quarter, totaling $556.2 billion for the year so far. Amazon led with $75.9 billion in cash capex, while Microsoft lowered its outlook to about $170 billion due to data-center delays. Executives cite AI infrastructure as the primary spending driver. Alphabet's CFO confirmed significant 2027 capex growth, and Meta plans to continue aggressive investment, though concrete 2027 figures remain undisclosed.


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