Capital expenditure at Microsoft, Alphabet, Meta and Amazon is expected to reach a combined $760 billion in 2026, according to a Statista chart published after the four companies reported second quarter 2026 earnings. The same group spent $413 billion in 2025, which puts the projected increase at about 84 percent in one year.

All four hyperscalers said they will keep raising spending on data centers, chips and networking equipment for AI workloads. Part of the growth reflects rising component prices. Statista estimated that higher chip prices added about $25 billion to Microsoft's 2026 spending.

Amazon and Alphabet both raised their 2026 capital spending forecasts again. Meta lifted the lower end of its range, moving from a band of $125 billion to $145 billion set in April to a floor of $130 billion in its July statement. Microsoft held its April projection of $190 billion.

Revenue results show where the money is landing. Amazon Web Services revenue rose 37 percent year over year, its fastest pace in 18 quarters, and the AI business within AWS reached an annualized revenue of $25 billion. Microsoft's AI business grew 123 percent year over year, and Alphabet's cloud business grew 82 percent.

Market reactions were mixed. Amazon shares rose despite the higher spending plan, while investors reacted negatively to Alphabet's larger investment outlook. Microsoft's stock climbed, and Meta shares fell after the company reported lower profits tied to legal expenses and severance costs, even as revenue increased.

Some depreciation linked to this spending will not reach reported profits until 2027. Amazon chief executive Andy Jassy has described AI as a once-in-a-lifetime opportunity and said the company will invest to lead the market.

Source: Statista - https://www.statista.com/chart/35046/capital-expenditure-of-meta-alphabet-amazon-and-microsoft/