Overview
- Microsoft reported nearly $35 billion in quarterly capex and 40% Azure growth, with CFO Amy Hood warning AI capacity constraints will persist through the fiscal year.
- Alphabet lifted full‑year capex guidance to $91–$93 billion as Google Cloud revenue rose 34% and its backlog expanded to $155 billion.
- AWS revenue grew 20% to $33 billion, lifting Amazon shares nearly 12%, as the company outlined $125 billion in 2025 capex and signaled higher spending in 2026.
- Meta forecast notably larger capital outlays next year, took a roughly $16 billion one‑time tax charge that hit earnings and sent shares lower, and filed to raise up to $30 billion in bonds.
- Nvidia’s market value topped $5 trillion, reinforcing investor focus on AI even as concerns grow over valuations and debt‑funded infrastructure pushes.