--- title: "AI Capex Statistics 2026: Hyperscaler Spending by Company" date: 2026-11-06 author: "Aaron Weiss" featured_image: "https://tricitylocalnews.com/wp-content/uploads/2026/10/ai-capex-statistics-hyperscaler-spending-company.jpg" categories: - name: "AI" url: "/ai.md" tags: - name: "Statistics" url: "/tag/statistics.md" --- # AI Capex Statistics 2026: Hyperscaler Spending by Company Amazon expects to spend approximately **$220 billion** in cash capital expenditures (capex) in 2026, up from its prior estimate of about **$200 billion**. Alphabet updated its full-year 2026 capex guidance to **$195 to $205 billion**, up from **$180 to $190 billion**, and Meta narrowed its 2026 range to **$130 to $145 billion**, including principal payments on finance leases. Each AI capex figure below is the company’s own, dated to the release or call that gave it. Microsoft adjusted its calendar year 2026 expectation to approximately **$175 billion** after a shift from finance leases to operating leases. Together, the four companies’ current 2026 guides add up to about **$720 billion** at the low end and about **$745 billion** at the high end. The spending buys servers, graphics processing units (GPUs), central processing units (CPUs), and data centers, and each company defines capex its own way. ## Key Takeaways - Before the latest revisions, the same four 2026 guides summed to about **$695 billion** at the low end and about **$725 billion** at the high end. - Since January 2026, Meta has lifted the low end of its 2026 outlook from **$115 billion** to **$130 billion**, by way of **$125 billion** in April 2026, and the high end from **$135 billion** to **$145 billion**. - Microsoft said roughly two-thirds of its **$41 billion** of fiscal fourth-quarter capex was for short-lived assets, primarily CPUs and GPUs. - Approximately **60%** of Alphabet’s second-quarter investment in technical infrastructure was in servers, and **40%** was in data centers and networking equipment. - Microsoft’s April 2026 estimate of roughly **$190 billion** for calendar year 2026 included approximately **$25 billion** from the impact of higher component pricing. - Oracle’s capital expenditures totaled **$55,663 million** (**$55.7 billion**) in fiscal 2026, about **11%** above its **$50 billion** guidance. ## Editor’s Choice - Amazon 2026 cash capex plan: approximately **$220 billion**, up from about **$200 billion**. - Alphabet 2026 capex guidance: **$195 to $205 billion**. - Microsoft capex across four fiscal 2026 quarters: **$145.3 billion**. - Meta second-quarter 2026 capex: **$31.08 billion**, including principal payments on finance leases. - Oracle first-quarter fiscal 2027 capex: **$28,499 million**. - Microsoft capex outlook for the first quarter of fiscal 2027: over **$50 billion**, including the lease reclassification impact. ## 2026 AI Capex Guidance by Company - Alphabet’s increase in its 2026 range is primarily due to an acceleration in the delivery of capacity to meet growing demand, the company said. - Amazon said the higher cost of memory pushed its 2026 cash capex estimate up from about **$200 billion** to approximately **$220 billion**. - Meta’s 2026 outlook of **$130 to $145 billion** was narrowed from its prior outlook of **$125 to $145 billion**. - Microsoft said its calendar year 2026 investment expectations remain unchanged outside the useful-life impact. - Oracle guided fiscal 2026 capital expenditures of **$50 billion**, unchanged from its previous guidance. Oracle’s prior fiscal year ended on May 31, 2025, so its figures cover a different period and stay out of the calendar-year sum. - The four calendar-year guides from Alphabet, Amazon, Meta and Microsoft add up to about **$720 billion** at the low end, against about **$695 billion** before the latest revisions. | Company | 2026 capex guidance as stated | Prior figure | Basis | Date given | |---|---|---|---|---| | Amazon | approximately $220 billion | about $200 billion | Cash capex, 2026 | July 30, 2026 | | Alphabet | $195 to $205 billion | $180 to $190 billion | Full-year 2026 capex | July 22, 2026 | | Microsoft | approximately $175 billion | roughly $190 billion | Calendar year 2026; finance leases included, operating leases not | July 29, 2026 | | Meta | $130 to $145 billion | $125 to $145 billion | 2026 capex including principal payments on finance leases | July 29, 2026 | | Oracle | $50 billion | Unchanged from previous guidance | Fiscal 2026 | March 10, 2026 | *Source: Amazon, Alphabet, Microsoft, Meta and Oracle company disclosures, 2026* ### About This Data - Compiled from 14 sources: 5 earnings releases filed with the SEC, 3 Meta investor relations releases, 4 Microsoft earnings call transcripts published by Microsoft, and published transcripts of Alphabet’s and Amazon’s second-quarter 2026 calls. - Sources date from October 2025 (Microsoft’s fiscal first-quarter call) to September 2026 (Oracle’s first-quarter fiscal 2027 release). - Only company filings, company releases, and the companies’ own earnings calls qualified; secondary estimates of combined spending were excluded. - Figures are reviewed on a rolling basis and updated when the companies publish new results. ### What are hyperscalers spending on AI capex in 2026? Amazon expects approximately **$220 billion** in cash capex in 2026, Alphabet **$195 to $205 billion**, Meta **$130 to $145 billion,** and Microsoft approximately **$175 billion** for calendar year 2026. Combined, the four guides reach about **$745 billion** at the high end, measured on each company’s own definition of capex. ## Microsoft Capex by Quarter - Microsoft’s capital expenditures were **$41 billion** in the fourth quarter of fiscal year 2026 (FY26), including the impact from higher component pricing. - In the fiscal first quarter, capital expenditures were driven by growing demand for Microsoft’s cloud and AI offerings. - Third-quarter capex of **$31.9 billion** was down sequentially due to the normal variability from cloud infrastructure buildouts and the timing of delivery of finance leases. - Total finance leases were **$4.7 billion** in the third quarter, primarily for large data center sites. - The four FY26 quarters add up to **$145.3 billion**. CAPEX · Source: Microsoft earnings calls, October 2025 to July 2026 CAPEX Microsoft · 2025 to 2026 Microsoft Capex by Fiscal Quarter ($ billions) 50 37.5 25 12.5 0 $34.9B FY26 Q1 $37.5B FY26 Q2 $31.9B FY26 Q3 $41B FY26 Q4 SOURCE Microsoft earnings calls, October 2025 to July 2026 View the data| Fiscal quarter | Capex ($ billions) | |---|---| | FY26 Q1 | 34.9 | | FY26 Q2 | 37.5 | | FY26 Q3 | 31.9 | | FY26 Q4 | 41 | ### What is Microsoft spending on capex? Microsoft reported capital expenditures of **$41 billion** for its FY26 fourth quarter. It expects capex of over **$50 billion** in the first quarter of fiscal 2027, including the lease reclassification impact from the useful life update. For calendar year 2026, the shift from finance to operating leases adjusts its expectation to approximately **$175 billion**. ## Recent Developments - **September 10, 2026:** Oracle reported capital expenditures of **$28,499 million** for the first quarter of fiscal 2027. - **July 30, 2026:** Amazon reported purchases of property and equipment of **$54,208 million** for its second quarter ended June 30, 2026. - **July 29, 2026:** Microsoft said it is extending the estimated useful lives of its data centers and office buildings from **15** to **25 years**, effective at the start of fiscal 2027. - **July 29, 2026:** Meta narrowed its 2026 capital expenditures outlook to **$130 to $145 billion**. - **July 22, 2026:** Alphabet reported purchases of property and equipment of **$44,924 million** for the quarter ended June 30, 2026. ## Microsoft 2026 Capex Guidance and the Lease Accounting Change - In April 2026, Microsoft expected to invest roughly **$190 billion** in capital expenditures in calendar year 2026, including approximately **$25 billion** from the impact of higher component pricing. - The useful-life change affects only the timing of future depreciation and is expected to have a minimal benefit to FY27 operating income, Microsoft said. - The greater impact is on capital expenditures, as more of Microsoft’s future data center leases will shift from finance leases to operating leases. - Finance leases are included in Microsoft’s capital expenditures while operating leases are not. - Microsoft’s expectation from July 2026 is about **$15 billion** below its April 2026 estimate, with both figures stated as approximate. | Period | Capex figure as stated | Basis | |---|---|---| | Calendar year 2026 (April 2026 estimate) | roughly $190 billion | Includes approximately $25 billion from higher component pricing | | Calendar year 2026 (July 2026 expectation) | approximately $175 billion | After more data center leases shift from finance to operating leases | | First quarter of fiscal 2027 (July 2026 outlook) | over $50 billion | Includes the lease reclassification impact | *Source: Microsoft CFO remarks, April and July 2026* ### Why did Microsoft lower its capex guidance? Microsoft said its calendar year 2026 investment expectations remain unchanged outside the useful-life impact. Longer useful lives shift more future data center leases from finance leases, which are counted in capital expenditures, to operating leases, which are not, adjusting the expectation to approximately **$175 billion**. ## Alphabet Capex and 2026 Guidance - Alphabet’s capex was **$44.9 billion** in the second quarter, with the vast majority of the spend in technical infrastructure to support its investments in AI. - Approximately **60%** of that technical infrastructure investment went to servers and **40%** to [data centers](/data-center-statistics/) and networking equipment. - Purchases of property and equipment rose from **$23,953 million** (**$24.0 billion**) in the third quarter of 2025 to **$44,924 million** (**$44.9 billion**) in the second quarter of 2026, and reached **$132,402 million** (**$132.4 billion**) over the trailing twelve months. - Alphabet had negative free cash flow of **$5.9 billion** in the second quarter, driven by its investments in capex. - The company raised its 2026 range primarily because of an acceleration in the delivery of capacity to meet growing demand. SHARE OF TECHNICAL INFRASTRUCTURE · Q2 2026 · Share of technical infrastructure investment · Source: Alphabet Q2 2026 earnings call SHARE OF TECHNICAL INFRASTRUCTURE Alphabet · Q2 2026 Alphabet Technical Infrastructure Spend (%) Q2 2026 · Share of technical infrastructure investment 60% SERVERS Servers 60% Data centers and networkingequipment 40% SOURCE Alphabet Q2 2026 earnings call View the data| Investment category | Share of technical infrastructure investment (%) | |---|---| | Servers | 60 | | Data centers and networking equipment | 40 | ## Amazon Capex and 2026 Cash Capex Plan - Amazon now believes it will spend approximately **$220 billion** in cash capex in 2026. - Even at that amount, Amazon said it will still not have enough [computing capacity](/cloud-computing-statistics/) to meet all the demand it has in 2026. - Purchases of property and equipment were **$54,208 million** (**$54.2 billion**) in the three months ended June 30, 2026, against **$32,183 million** (**$32.2 billion**) a year earlier. - Twelve-month purchases rose about **61%**, to **$173,028 million** (**$173.0 billion**). - Free cash flow decreased to an outflow of **$7.6 billion** for the trailing twelve months. 2025 vs 2026 · Source: Amazon Q2 2026 cash flow statement Amazon · Q2 2026 Amazon Purchases of Property and Equipment ($ millions) 2025 vs 2026 2025 2026 200,000 160,000 120,000 80,000 40,000 0 $32,183M $54,208M $57,202M $98,411M $107,656M $173,028M Three months Six months Twelve months 2025 · $32,183M 2026 · $54,208M 2025 · $57,202M 2026 · $98,411M 2025 · $107,656M 2026 · $173,028M SOURCE Amazon Q2 2026 cash flow statement View the data| Period ended June 30 | 2025 ($ millions) | 2026 ($ millions) | |---|---|---| | Three months | 32,183 | 54,208 | | Six months | 57,202 | 98,411 | | Twelve months | 107,656 | 173,028 | ## Meta Capex by Quarter - Meta’s capital expenditures, including principal payments on finance leases, were **$31.08 billion** in the second quarter of 2026. - Full-year 2025 capital expenditures on the same basis were **$72.22 billion**. - First-half 2026 capex totaled **$50.92 billion**. - Second-quarter capex was about **57%** higher than first-quarter capex. CAPEX AND FINANCE LEASES · Source: Meta quarterly results, January to July 2026 CAPEX AND FINANCE LEASES Meta · 2026 Meta Capex by Quarter ($ billions) 32 24 16 8 0 $22.14B Q4 2025 $19.84B Q1 2026 $31.08B Q2 2026 SOURCE Meta quarterly results, January to July 2026 View the data| Quarter | Capex and finance leases ($ billions) | |---|---| | Q4 2025 | 22.14 | | Q1 2026 | 19.84 | | Q2 2026 | 31.08 | > **By the numbers:** Meta spent **$31.08 billion** on capex, including principal payments on finance leases, in the second quarter of 2026. Its first-half total covers about **39%** of the **$130 billion** low end of its 2026 outlook, leaving about **61%** of that low end for the second half. ## Meta 2026 Capex Outlook Revisions - Meta’s current 2026 outlook is **$130 to $145 billion**, narrowed from **$125 to $145 billion**, according to its [second-quarter 2026 results release](https://investor.atmeta.com/investor-news/press-release-details/2026/Meta-Reports-Second-Quarter-2026-Results/default.aspx). - Meta’s January 2026 outlook tied year-over-year growth to increased investment to support its Meta Superintelligence Labs efforts and core business. - Meta’s April 2026 raise reflected expectations for higher component pricing and, to a lesser extent, additional data center costs to support future year capacity. - The low end of the range is **$15 billion** higher than in January 2026, and the high end is **$10 billion** higher. - The low end of the outlook is about **80%** above Meta’s 2025 capex, and the high end about **101%** above it. Low vs High · Source: Meta CFO outlook commentary, January, April and July 2026 Meta CFO · 2026 Meta 2026 Capex Outlook by Revision ($ billions) Low vs High Low end High end 150 120 90 60 30 0 $115B $135B $125B $145B $130B $145B January 2026 April 2026 July 2026 Low end · $115B High end · $135B Low end · $125B High end · $145B Low end · $130B High end · $145B SOURCE Meta CFO outlook commentary, January, April and July 2026 View the data| Outlook given | Low end ($ billions) | High end ($ billions) | |---|---|---| | January 2026 | 115 | 135 | | April 2026 | 125 | 145 | | July 2026 | 130 | 145 | ### How much will Meta spend on capex in 2026? Meta anticipates 2026 capital expenditures, including principal payments on finance leases, of **$130 to $145 billion**. It spent **$50.92 billion** in the first half of the year, leaving about **$79.08 billion** to reach the low end of that range in the second half. ## Oracle Capex vs Guidance - Oracle’s capital expenditures were **$55,663 million** (**$55.7 billion**) in fiscal 2026, about **11%** more than it had guided. - Fiscal 2026 capex was about **162%** higher than in the prior fiscal year. - First-quarter fiscal 2027 capex was **$28,499 million** (**$28.5 billion**), about **51%** of the fiscal 2026 total in a single quarter. - Oracle raised **$43 billion** in debt financing and **$5 billion** in equity financing in fiscal 2026. CAPEX · Source: Oracle fiscal 2026 Q3 and Q4 results, 2026 CAPEX Oracle · 2026 Oracle Capex, Actual vs Guidance ($ millions) Fiscal 2025 actual $21,215M Fiscal 2026 guidance (March 2026) $50,000M Fiscal 2026 actual $55,663M 0 12,000 24,000 36,000 48,000 60,000 SOURCE Oracle fiscal 2026 Q3 and Q4 results, 2026 View the data| Fiscal year figure | Capex ($ millions) | |---|---| | Fiscal 2025 actual | 21,215 | | Fiscal 2026 guidance (March 2026) | 50,000 | | Fiscal 2026 actual | 55,663 | > **Worth noting:** Oracle guided fiscal 2026 capital expenditures of **$50 billion**, unchanged from its previous guidance, and reported **$55,663 million** (**$55.7 billion**). Its prior fiscal year ended on May 31, 2025. Oracle’s fiscal figures therefore cover a different period than the calendar-year guides from Alphabet, Amazon, Meta and Microsoft, and are not added to them. ## How Much Big Tech Capex Goes to AI Servers and Chips - Microsoft said roughly two-thirds of its fiscal fourth-quarter capex was for short-lived assets, primarily CPUs and GPUs, as customers increasingly build solutions that use both AI and non-AI infrastructure. - In its fiscal first quarter, roughly half of Microsoft’s spend was on short-lived assets, primarily GPUs and CPUs. - The short-lived share was roughly two-thirds in Microsoft’s fiscal second and third quarters. - Alphabet said approximately **60%** of its second-quarter investment in technical infrastructure was in servers. - Amazon said its year-over-year increase of **$66.1 billion** in purchases of property and equipment, net of proceeds from sales and incentives, primarily reflects investments in artificial intelligence. Gross twelve-month purchases rose **$65.4 billion**, from **$107.7 billion** to **$173.0 billion**, so the two increases differ because the net figure also counts those proceeds and incentives. - The companies describe their AI hardware share in different terms, so the shares cannot be averaged or summed. | Company | How the split is described | Figure as stated | Period | |---|---|---|---| | Microsoft | Short-lived assets, primarily CPUs and GPUs | roughly two-thirds | FY26 Q2, Q3 and Q4 | | Microsoft | Short-lived assets, primarily GPUs and CPUs | roughly half | FY26 Q1 | | Amazon | Year-over-year increase in net purchases of property and equipment, primarily reflecting AI | $66.1 billion | Trailing twelve months to June 30, 2026 | *Source: Microsoft and Amazon disclosures, 2025 and 2026* ### How much of Big Tech capex goes to AI? Microsoft said roughly two-thirds of its fiscal fourth-quarter capex went to short-lived assets, primarily CPUs and GPUs. Alphabet put the vast majority of its second-quarter capex in technical infrastructure to support AI, with approximately **60%** of that investment in servers. Neither company gives one AI share of total capex. ## Component and Memory Pricing in 2026 Capex Guidance - Microsoft’s roughly **$190 billion** calendar 2026 estimate from April included approximately **$25 billion** from the impact of higher component pricing. - That pricing effect is about **13%** of the estimate. - Microsoft’s **$41 billion** of fiscal fourth-quarter capex included the impact from higher component pricing. - Meta’s April 2026 raise reflected its expectations for higher component pricing this year. - Amazon said the higher cost of memory pushed its 2026 cash capex number up from its prior estimate. - Amazon’s raise is about **$20 billion**. | Company | Pricing factor named | Guidance figure as stated | When given | |---|---|---|---| | Microsoft | Higher component pricing | Approximately $25 billion within roughly $190 billion | April 2026 | | Meta | Higher component pricing and, to a lesser extent, additional data center costs | Raised to $125 to $145 billion from $115 to $135 billion | April 2026 | | Amazon | Higher cost of memory | Approximately $220 billion, from about $200 billion | July 2026 | *Source: Microsoft, Meta and Amazon guidance remarks, 2026* > **Key finding:** Microsoft attributed approximately **$25 billion** of its roughly **$190 billion** calendar 2026 capex estimate to higher component pricing. Amazon cited the higher cost of memory for its raise to approximately **$220 billion**. Part of the 2026 increase therefore reflects what the same hardware costs, and not only how much of it the companies buy. ## How Big Tech Defines Capital Expenditures - Meta reports capital expenditures including principal payments on finance leases. - Microsoft’s **$41 billion** fiscal fourth-quarter figure included **$5.6 billion** of finance leases, while cash paid for property, plant and equipment (PP&E) was **$35.8 billion**. - Finance leases made up about **14%** of that quarter’s capex. - Amazon gives its 2026 plan as cash capex, and it describes its year-over-year increase in purchases of property and equipment net of proceeds from sales and incentives. - Alphabet subtracts purchases of property and equipment from operating cash flow to reach free cash flow. - Because the bases differ, any sum across companies is approximate. | Company | Metric as named | What it covers | Latest figure | |---|---|---|---| | Meta | Capital expenditures | Includes principal payments on finance leases | $31.08 billion (Q2 2026) | | Microsoft | Capital expenditures | Includes finance leases, excludes operating leases | $41 billion (FY26 Q4) | | Amazon | Purchases of property and equipment | Cash flow statement line; 2026 plan given as cash capex | $54,208 million (Q2 2026) | | Alphabet | Purchases of property and equipment | Subtracted from operating cash flow for free cash flow | $44,924 million (Q2 2026) | | Oracle | Capital expenditures | Net cash outlay for capital expenditures table | $28,499 million (Q1 fiscal 2027) | *Source: Meta, Microsoft, Amazon, Alphabet and Oracle financial statements and earnings calls, 2026* ## Big Tech Capex Plans for 2027 - Alphabet said it continues to expect its capex to increase significantly in 2027. - Amazon said it believes its capacity shortfall against demand will also be true in 2027, and each site built to close it adds to [data center electricity use](/data-center-energy-consumption-statistics/). - Microsoft expects capex of over **$50 billion** in the first quarter of fiscal 2027. - Oracle expects to raise approximately **$40 billion** through a combination of debt and equity financing in fiscal 2027, including its previously announced **$20 billion** at-the-market equity issuance. - Oracle does not expect to issue additional debt in calendar year 2026. ### Will AI capex increase in 2027? Alphabet expects its capex to increase significantly in 2027, and Amazon expects its capacity to fall short of demand in 2027 as well. Microsoft’s outlook for the first quarter of fiscal 2027 is over **$50 billion**. None of these statements is a full-year dollar figure. ## Conclusion Amazon now expects to spend approximately **$220 billion** in cash capex in 2026, and the four calendar-year guides from Amazon, Alphabet, Meta and Microsoft add up to about **$720 billion** to **$745 billion**. Every one of those guides moved during the year, and component and memory prices now account for part of the increase. The next quarterly results will show whether actual spending keeps pace with these ranges, read on each company’s own definition of capex.