🔴Big Tech's AI spending spree shows no signs of slowing down: Combined 2026 capital expenditure guidance across Amazon, Alphabet, Meta, and Microsoft has risen to nearly $750 billion, the highest EVER. Amazon, $AMZN, alone raised its full-year guidance to $220 billion this week, up from $200 billion, with CEO Andy Jassy saying most of that spending will go toward AI. Alphabet, $GOOGL, lifted its 2026 CapEx outlook to $195 billion-$205 billion, up from $190 billion. At the same time, Microsoft reaffirmed its roughly $190 billion spending outlook, while Meta raised the low end of its 2026 capital expenditure guidance to $130 billion from $125 billion, keeping the upper end unchanged at $145 billion. Big Tech's AI investment surge seems to be far from over. The question now is whether the returns can catch up to the spending.