AI hyperscalers are expected to finish the year spending a whopping $828 billion on capex
Amazon, Alphabet, Meta, Microsoft, and SpaceX each reported increased capex for Q3, with no signs of slowing down for 2027 amid the AI buildout.
In 2026, Amazon, Alphabet, Meta, Microsoft, and SpaceX are projected to collectively spend between $803 billion and $828 billion on capital expenditures (CapEx). The hyperscalers are investing heavily in AI infrastructure as they compete to build out the physical foundation of the AI economy. The surge in spending, which reached $227 billion in the third quarter, is expected to continue in 2027, with all companies expressing confidence in their plans.
Amazon leads the spending race, with $75.9 billion in cash CapEx, primarily for AWS and AI. Despite SpaceX's relatively small CapEx of $48.1 billion, the company anticipates an increase in spending. The complete breakdown of spending by quarter and individual companies is provided, along with projections for the fourth quarter and 2027.
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