Overview
- Alphabet, Amazon, Microsoft, and Meta now plan about $725 billion in 2026 capital spending, a 77% jump from last year’s record $410 billion.
- Google Cloud revenue topped $20 billion with 63% growth and its backlog doubled to $460 billion, lifting Alphabet’s value above $4.66 trillion.
- Reports that OpenAI missed monthly sales targets this year pressured Nvidia shares, narrowing the gap as Alphabet approaches the top market cap spot.
- Microsoft set 2026 capital spending at $190 billion, with $25 billion tied to higher prices for storage chips and other components.
- Meta raised its capital spending range to as high as $145 billion, citing pricier parts plus rising costs for land, power, and skilled data‑center labor.