Hyperscaler AI Capital Expenditure (Q2 2026)
Latest-quarter capital expenditure, year-over-year growth and full-year guidance for Microsoft, Alphabet, Meta, Amazon and Oracle — first-party earnings data sizing the AI-infrastructure buildout.
| Company | Period | Cash capex (US$B) | YoY | FY guidance / note |
|---|---|---|---|---|
| Microsoft | Q2 2026 (FY26 Q4) | $35.8 | +109% | CY2026 ~$175B incl. leases (call) |
| Alphabet | Q2 2026 | $44.9 | +100% | FY26 raised to $195–205B (call) |
| Meta | Q2 2026 | $30.1 | +82% | FY26 $130–145B (press release) |
| Amazon | Q2 2026 | $54.2 | +68% | 2026 ~$220B (call); table figure is gross |
| Oracle | FY26 full year (to 5/31) | $55.7 (FY) | +162% | No clean quarter disclosed; FY27 ~$70B net (call) |
Method & sources
All figures come from each company's first-party earnings documents (cash-flow statements / SEC 8-K), retrieved 2026-08-16. **Consistent basis**: the main "cash capex" column uses each company's cash-flow-statement line "purchases of property and equipment" for cross-company comparability; Meta and Microsoft also disclose higher "including finance leases" figures, which are excluded from the main column to avoid confusion. **Full-year guidance** is mostly a verbal raise from earnings calls (only Meta's is in the press release), noted per row. **Oracle**'s fiscal quarter ends 5/31 (vs 6/30 for the others) and it discloses only full-year / trailing-four-quarter capex, so the FY26 full-year figure $55.7B is used (period column marked "full year") and should not be compared directly to the others' single quarters. Sources: Microsoft https://www.microsoft.com/en-us/investor/earnings/fy-2026-q4/press-release-webcast ; Alphabet https://s206.q4cdn.com/479360582/files/doc_financials/2026/q2/2026q2-alphabet-earnings-release.pdf ; Meta (SEC 8-K Ex-99.1) https://www.sec.gov/Archives/edgar/data/1326801/000162828026050596/meta-06302026xexhibit991.htm ; Amazon https://ir.aboutamazon.com/files/doc_earnings/2026/q2/earnings-result/AMZN-Q2-2026-Earnings-Release.pdf ; Oracle (8-K Ex-99.1) https://s23.q4cdn.com/440135859/files/doc_earnings/2026/q4/supplemental-info/Q426_Form8K_Exhibit99-1_Earnings_Release_Tables-Final.pdf . Capex definitions vary slightly by company (with/without finance leases); use this table's stated basis for comparison.
Source: https://www.microsoft.com/en-us/investor/earnings/fy-2026-q4/press-release-webcast
Retrieved: 2026-08-16