Amazon's plan to spend about $200 billion in 2026 shows how AI capex spreads beyond GPUs into custom chips, data centers, robotics, networking, and satellite infrastructure while compressing free cash flow in the near term.
Meta's 2026 infrastructure budget expanded from an initial $115–135 billion range to $125–145 billion and then narrowed to $130–145 billion, making superintelligence a capital-allocation program as much as a research agenda.
Microsoft's 2026 AI buildout pushed calendar-year capex guidance to roughly $190 billion as the company raced to add datacenter capacity, GPUs, CPUs, storage, networking, and energy infrastructure fast enough to meet Azure demand.