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    From their SEC filingsQ3 2026: 1 of 5 in

    Big Tech's capex, quarter by quarter

    Microsoft, Alphabet, Amazon, Meta and Oracle spent $181.5B on property and equipment in Apr–Jun 2026, up 87% from $97.3B a year earlier. It's the spending behind the data centers, chips, networking and power that the rest of WattsNext tracks, and it updates as each company reports.

    Apr–Jun 2026 · all five

    $181.5B

    vs Apr–Jun 2025 ($97.3B)
    +87%
    vs Apr–Jun 2025 ($97.3B)
    a day, on average
    $2.0B
    a day, on average
    over the last four quarters
    $566.4B
    over the last four quarters

    $0spent since you opened this pageat Apr–Jun 2026's average pace

    Who spent it, Apr–Jun 2026
    • Microsoft20%
    • Alphabet25%
    • Amazon30%
    • Meta17%
    • Oracle9%

    Quarter by quarter

    Three years of capex, stacked

    Tap or hover a quarter for the breakdown; use the arrow keys after tabbing to the chart. Dashed cap: companies still to file that quarter.

    Q2 2026

    Apr–Jun 2026

    $181.5B

    +87% vs a year earlier

    • Microsoft$35.8B+110%
    • Alphabet$44.9B+100%
    • Amazon$54.2B+68%
    • Meta$30.1B+82%
    • Oracleits Mar–May quarter$16.5B+82%

    Percentages compare each company's same quarter a year earlier.

    Show the numbers (billions of dollars)
    QuarterMSFTGOOGLAMZNMETAORCLTotal
    Jul–Sep 2026––––28.5so far 28.5
    Apr–Jun 202635.844.954.230.116.5181.5
    Jan–Mar 202630.935.744.219.018.6148.4
    Oct–Dec 202529.927.939.521.412.0130.7
    Jul–Sep 202519.424.035.118.88.5105.8
    Apr–Jun 202517.122.432.216.59.197.3
    Jan–Mar 202516.717.225.012.95.977.8
    Oct–Dec 202415.814.327.814.44.076.3
    Jul–Sep 202414.913.122.68.32.361.2
    Apr–Jun 202413.913.217.68.22.855.6
    Jan–Mar 202411.012.014.96.41.746.0
    Oct–Dec 20239.711.014.67.61.144.0

    Each figure links to the SEC filing it came from

    Coming up

    The next numbers land with earnings

    Each company gives its quarter's capex in its earnings release, and the figure appears here once its 10-Q reaches the SEC, usually the same day or within a few days. Q3 2026 has 1 of 5 in; the chart's last column fills in as the rest report.

    Get the week's report dates every Sunday

    Q3 2026 is filling in

    1 of 5 filed · $28.5B so far
    • MetaWed, Oct 21 · after market closeIn 6 days
    • MicrosoftWed, Oct 28 · after market closeIn 13 days
    • AlphabetWed, Oct 28In 13 days
    • Amazon~Oct 29 (est.)In 14 days
    • Oracle~Dec 9 (est.)In 55 days
    Add these dates to your calendar

    Company by company

    Five spenders, twelve quarters each

    All five spent more in their latest quarter than in any quarter since 2021, as far back as our data goes.

    Amazon

    AMZN

    $54.2B+68% y/y

    Q2 2026 · ended Jun 30, 2026

    Next: ~Oct 29 (est.)In 14 days
    AMZN earnings date

    Alphabet

    GOOGL

    $44.9B+100% y/y

    Q2 2026 · ended Jun 30, 2026

    Next: Wed, Oct 28In 13 days
    GOOGL earnings date

    Microsoft

    MSFT

    $35.8B+110% y/y

    fiscal Q4 2026 · ended Jun 30, 2026

    Next: Wed, Oct 28 · after market closeIn 13 days
    MSFT earnings date

    Meta

    META

    $30.1B+82% y/y

    Q2 2026 · ended Jun 30, 2026

    Next: Wed, Oct 21 · after market closeIn 6 days
    META earnings date

    Oracle

    ORCL

    $28.5B+235% y/y

    fiscal Q1 2027 · ended Aug 31, 2026

    Next: ~Dec 9 (est.)In 55 days
    ORCL earnings date

    Where the money goes

    The companies on the other side

    Data centers need chips, networking gear, power, cooling and space. These are the lanes WattsNext tracks for each, with their next report.

    Quick answers

    Hyperscaler capex, answered

    How much are Microsoft, Alphabet, Amazon, Meta and Oracle spending on capex?
    $181.5B together in Apr–Jun 2026, up 87% from $97.3B a year earlier. That's about $2.0B a day, and $566.4B over the last four quarters. The figure is the cash each company spent on property and equipment, from its cash flow statement.
    Which hyperscaler spends the most on capex?
    In Apr–Jun 2026: Amazon ($54.2B), then Alphabet ($44.9B), Microsoft ($35.8B), Meta ($30.1B) and Oracle ($16.5B).
    Is all of this AI spending?
    Not necessarily. These are total capital expenditures as each company reports them; the cash flow statement doesn't split AI from other spending. The companies describe what they're building in their quarterly reports and calls.
    When do the next capex numbers come out?
    With each company's next quarterly report: Meta Wed, Oct 21 · after market close; Microsoft Wed, Oct 28 · after market close; Alphabet Wed, Oct 28. The figure appears here once the company files its 10-Q, usually the same day or within a few days.
    Where do these numbers come from?
    Each company's 10-Q and 10-K filings with the SEC, read from the SEC's XBRL data. Quarterly figures are worked out from the year-to-date totals the filings report. Equipment taken on finance leases, which is large at Microsoft and Meta, isn't included.

    How it's counted

    From the cash flow statement

    Each figure is the cash a company spent on property and equipment in the quarter, the line named below on its cash flow statement. We read it from the SEC's XBRL data for its 10-Q and 10-K filings. Filings report the year to date, so a quarter is that total minus the one before it.

    Quarters are lined up by the month they end. Microsoft's fiscal year ends in June and Oracle's in May; Oracle's quarters end a month before the calendar's, so its March–May quarter counts as April–June.

    Not included: equipment taken on finance leases (large at Microsoft and Meta) and spending the companies commit to but haven't paid yet. Numbers can change when a company revises an earlier filing; we always show the latest.