Big Tech AI Infrastructure Spending Approaches $725 Billion in 2026 — Fortune/Bloomberg Report
Fortune / Bloomberg·high signal
Fortune and Bloomberg report that combined 2026 capex from the four major hyperscalers is on track to reach $725 billion, up from ~$410B last year and ~$200B in 2024. Alphabet and Microsoft each committed $190B, Amazon held at $200B, and Meta raised guidance to $125-145B (up from $115-135B). This 3.5x increase in two years represents the largest infrastructure buildout in tech history, with no clear endpoint — some analysts warn of potential overbuild while all four companies signal sustained investment.