Open dataset · 2026
AI capex, stripped of false precision.
- Companies
- 4
- MSFT · AMZN · GOOGL · META
- Guidance low
- $720B
- Guidance high
- $745B
- Reviewed
- 2026-09-25
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What the total means
This is a capital-spending envelope, not an audited AI-only total. Amazon is companywide, Meta includes finance-lease principal, Microsoft uses calendar guidance across a June fiscal year, and none of the four isolates every AI dollar.
See how to normalize the numbers| Company | 2026 guidance | Latest signal | Primary comparison limit | Sources |
|---|---|---|---|---|
| Microsoft MSFT | About $175B Calendar 2026 | $41B Roughly two-thirds short-lived assets, primarily CPUs and GPUs; finance leases were $5.6B | The company does not disclose a standalone audited AI-capex figure. | |
| Amazon AMZN | About $220B Calendar 2026 | ~$200B to ~$220B Raised July 30, mainly due to memory costs; capacity still short of 2026 demand | The $220 billion plan is companywide and cannot be treated as pure AI or AWS capex. | |
| Alphabet GOOGL | $195B–$205B Calendar 2026 | $44.9B About 60% servers and 40% data centers and networking | Alphabet does not publish a clean AI-only capital-expenditure measure. | |
| Meta META | $130B–$145B Calendar 2026 | $31.08B Includes principal payments on finance leases | The capex outlook includes infrastructure used across Meta's core business and research, not only generative AI. |
Method and update policy
Yield Theory records the latest explicit annual guidance from each company, preserves its accounting scope, and links the primary earnings or investor-relations source. We update the dataset after a material guidance change rather than manufacturing a daily estimate from market commentary.
Read the research methodologyWhat this dataset cannot tell you
- It does not isolate a comparable audited AI-only capex line.
- It does not predict a supplier's revenue from the spending total.
- It does not prove the new capacity will reach profitable utilization.
- It does not replace current company filings or personalized advice.
The capex number is the start of the thesis.
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