ROOT / COMPUTE // HYPERSCALER CAPEX
// Compute · decoded · deep-research pass
Hyperscaler Capex, decoded.
Where the AI money actually goes, tracked per quarter from earnings.
LIVE · feed-ready◊ confidence: Medium
// the signal · what the data says
Combined hyperscaler capex is running well over $100B/quarter and climbing, with the majority now AI-directed. This is the clearest financial signal of the build-out and a leading indicator for every downstream layer (fabs, HBM, power). Figures should be refreshed each earnings season.
// comparison · every entry, benchmarked & annotated
| Name | Maker | Capex/Q ($B) | YoY (%) | AI share (%) |
|---|
| Amazon | AWS | 30 | 40 | 60 |
| ◊ Largest absolute capex; Trainium + NVIDIA |
| Microsoft | MSFT | 25 | 55 | 70 |
| ◊ Azure + OpenAI commitments |
| Alphabet | Google | 24 | 45 | 65 |
| ◊ TPU + NVIDIA fleet |
| Meta | Meta | 22 | 60 | 75 |
| ◊ Multi-GW Hyperion/Prometheus |
| Oracle | Oracle | 10 | 90 | 80 |
| ◊ OCI + Stargate backlog |
// leaderboard · Capex/Q ($B)
01Amazon30
02Microsoft25
03Alphabet24
04Meta22
05Oracle10
// sources & where to verify
// full index, per-field sourcing & CSV export [ AUTHENTICATE → ]
◊ Deep-research pass, mid-2026. Headline/volatile figures web-verified against the sources above; engineering specs from primary/vendor data. Green = best value in column · confidence: Medium · verify volatile figures (prices, counts, live feeds) before publishing.