Key Points
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Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) saw stock increases of 18% and 10%, respectively, during the week of July 26-31, 2023, following their earnings reports focused on AI data center investments.
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Conversely, Alphabet (NASDAQ: GOOG), Meta Platforms (NASDAQ: META), and Oracle (NYSE: ORCL) experienced declines, with Meta down nearly 10% and Oracle’s stock price decreasing by 35% since its Q4 2026 report.
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Full-year AI spending guidance among the five hyperscalers ranges from approximately $70 billion at Oracle to about $220 billion at Amazon.
Capex Comparisons
|
Company |
Last Quarter’s Capex |
Full-Year Capex Guidance |
|---|---|---|
|
Microsoft |
$41.0 billion |
About $175 billion, calendar 2026 |
|
Amazon |
$53.1 billion |
About $220 billion |
|
Alphabet |
$44.9 billion |
$195 billion to $205 billion |
|
Meta |
$31.1 billion |
$130 billion to $145 billion |
|
Oracle |
$16.5 billion |
About $70 billion, fiscal 2027 |
Data source: Company filings and earnings calls.
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