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Hyperscaler capex 2026: the quarterly numbers, by company

As chip supply stabilizes, hyperscaler capital expenditure shifts toward power, cooling, and long-lead equipment, with a small group of firms benefiting across chips, hyperscalers, and model developers; a Capex and Circularity Map tracks this cycle.

Artificial Intelligence: AI investments surpass one trillion dollars

Translated title. Original: Künstliche Intelligenz: KI-Investitionen übersteigen eine Billion Dollar

Big cloud players are pouring record levels of capital into data-center expansion, with year-to-date investments nearing $1 trillion and forecasts above $1.4 trillion next year. While the investments are driven by software, advertising, and cloud services, investors have reacted cautiously, wiping out billions in market value in short order, as analysts deem the move a calculated risk with uncertain returns.

Results of the hyperscalers: Alphabet and Microsoft. Will their results justify the huge investments? | XTB

Translated title. Original: 📊 Resultados de los hiperescaladores: Alphabet y Microsoft. ¿Justificarán sus resultados las enormes inversiones? | XTB

Alphabet and Microsoft face pressure from large AI-related capital spending, with expected high CapEx and negative free cash flow, while growing cloud businesses and AI initiatives offer potential upside. Markets anticipate earnings moves but remain wary of cash generation amid heavy infrastructure investment.

Microsoft's Severance Offer to 60,000 Employees Is All About AI Capex Confidence - 24/7 Wall St.

Microsoft signals confidence in AI-driven growth by funding large-scale AI infrastructure with a buyout program to reduce payroll, guiding big capex while maintaining positive cash flow and modest debt. The company expects accelerating revenue from AI-enabled services, supported by strong demand and expanding data-center capacity.

How Much Should This Fall Change Your View Of Applied Digital Stock? | Trefis

Applied Digital has long-term data center leases, but rent remains a small share of revenue as construction costs drive heavy borrowing and negative free cash flow. The article says the company’s ability to fund construction until rent grows is the key issue to watch.

Microsoft’s AI investments accelerate, future lease liabilities expand to about 58 trillion yen: widening gap with contracted sales | XenoSpectrum

Translated title. Original: MicrosoftのAI投資が加速、将来のリース負担は約58兆円に膨張：契約済み売上との乖離が拡大 | XenoSpectrum

Microsoft reports higher capex and growing unstarted leases, which, alongside rising Azure revenue, indicate infrastructure spending outpacing revenue recognition. The gap between unstarted leases and Commercial RPO widened, driven by large lease contracts and timing effects, with implications for future cash flow and revenue as contracts begin.

Meta posts better-than-expected Q3 revenue and solid guidance

Translated title. Original: Meta publikuje lepsze od oczekiwań przychody za III kwartał i solidne prognozy

Meta beat revenue expectations in Q3 2026 and provided solid guidance for Q4, with EPS below expectations and user growth slightly under forecasts. The company narrowed its full-year CAPEX range while signaling continued AI infrastructure investments, including new models Muse and Muse Wonder.

Meta Platforms A stock: Midterm rally lifts tech stocks – Meta examines Piqua investment

Translated title. Original: Meta Platforms A Aktie: Midterm-Rally hebt Techwerte – Meta prüft Piqua-Investition

Meta and other tech giants rose after midterm results, as investors weighed potential limits on new data centers against the need for existing capacity. Meta’s planned $1B Piqua data center faces local opposition and uncertain approval, while a reported Conductor acquisition could extend Meta's AI tools, though financial details remain undisclosed. The market sees both potential relief in capex and risks to AI expansion and regulatory delays; the outcome depends on policy and local acceptance, with no decision date disclosed.

Cerebras scores with Oracle and Microsoft deals, while Cisco stumbles.

Translated title. Original: Cerebras gewinnt mit Oracle- und Microsoft-Verträgen, Cisco stolpert

Cerebras gained market attention after reporting new Oracle and Microsoft deployments and a revenue outlook above expectations. Cisco opened lower despite 21% growth in product orders, as orders missed forecasts and slowed from the prior quarter.

5 tech giants commit more than $3 trillion to AI data centres, Bloomberg says

Bloomberg reports five tech giants—Alphabet, Meta, Microsoft, Amazon, and Oracle—pledged over $3 trillion for AI data centres and related spending, with Alphabet exceeding $1 trillion. Leases total about $1.3 trillion and other orders about $1.9 trillion; some funds cover licenses, and reporting varies by company.