Four tech giants adjust their 2026 capital expenditure forecasts, with total capex potentially exceeding $740 billion.

ChainCatcher report: Amid growing market concerns about the sustainability of heavy investments by tech giants in AI, Meta, Microsoft, Alphabet, and Amazon have revised their 2026 capital expenditure forecasts for the third fiscal quarter, resulting in divergent expansion paces. Based on current data, the combined capital expenditure ceiling for these four companies in 2026 is projected to exceed $740 billion, a significant increase from the actual total capital spending of $455.8 billion in 2025. Specifically, Meta further raised its annual spending guidance floor, with its Q3 forecast now at $135–145 billion, up from the mid-year estimate of $130–145 billion. Microsoft lowered its Q3 forecast to $170 billion, below the mid-year projection of $175 billion; however, the company noted that this adjustment resulted from accounting treatment changes, with its actual AI infrastructure investment plans remaining unchanged since the beginning of the year. Alphabet and Amazon maintained their capital expenditure forecasts at $195–205 billion and $220 billion, respectively.