2026 Big Tech Spending
The four hyperscalers companies have released their 2026 spending plans and they are national in scale
The four hyperscalers have just announced their spending plans for 2026, and they now rival the economies of mid-sized countries around the world.
Microsoft is preparing one of the largest capex budgets in its history, with analysts pegging its 2026 capital expenditures in the ballpark of $105–$115 billion, driven largely by AI data center construction and cloud infrastructure.
Meta is slated to sharply increase its infrastructure spending in 2026, with forecasts as high as $135 billion, focused on AI training clusters and expansive data center footprints.
Alphabet is targeting up to $185 billion in capital expenditures in 2026, a near doubling from prior years, as it scales cloud services, AI models like Gemini and customized chip and data centers. Earlier this week, the company announced it was issuing rare 100-year bonds to help fund the buildout.
Amazon announced a massive $200 billion capex plan for 2026, up sharply from 2025, earmarked for AWS data centers, AI and robotics capabilities as well as custom silicon and satellite connectivity.
Should the four companies hit their spending targets, they could spend between $595 and $635 billion this year, an amount similar to Argentina’s GDP, largely on data centers.
Written by Aaron Foyer, Director of Research at Orennia
✉️ As always, feel free to reach out to me at aaron.foyer@orennia.com