Silicon Analysts

Hyperscaler AI Capex by Company

Newest print Apr 2026Reviewed quarterlyCSV — newest observations; full series with a Pro keyAPI

Microsoft: $30.876B (Q1 2026) — MSFT FY26 Q3 10-Q (SEC 0001193125-26-191507), Apr 2026 (confirmed). Basis: as reported. +3.3% vs Q4 2025.

Hyperscaler AI Capex by Company — latest readings

68 observations across 4 series, Q1 2022–Q1 2026.

Latest freely available reading for each series in Hyperscaler AI Capex by Company, with its basis, source and date
SeriesLatest ($B)Source
MicrosoftQ1 202630.876MSFT FY26 Q3 10-Q (SEC 0001193125-26-191507)Apr 2026
AlphabetQ1 202635.674GOOGL Q1 2026 10-Q (SEC 0001652044-26-000048)Apr 2026
AmazonQ1 202644.203AMZN Q1 2026 10-Q (SEC 0001018724-26-000014)Apr 2026
MetaQ1 202618.997META Q1 2026 10-Q (SEC 0001628280-26-028526)Apr 2026

Quarterly capital expenditure (cash purchases of property and equipment) by the four largest AI infrastructure buyers — Microsoft, Alphabet, Amazon, and Meta — from Q1 2022 through Q1 2026. The demand-side complement to the Semiconductor Capex (supplier-side) dataset: combined spend rose from ~$36B/quarter in 2022 to $129.8B in Q1 2026 ($433.9B over the trailing four quarters) as AI data center buildouts accelerated.

Meta: $19B (Q1 2026), META Q1 2026 10-Q (SEC 0001628280-26-028526), Apr 2026

2022–2025: 56 earlier prints — full ledger is Pro

  1. 1Q4 2025 — Meta–Blue Owl ~$27B SPV: Oct 21, 2025: Meta and Blue Owl announce the ~$27B Hyperion (Louisiana) data-center JV — off-balance-sheet SPV financing arrives at hyperscale (Meta press release, Oct 21, 2025; structure details per CNBC).
  2. 2Q4 2025 — Meta $30B Bond: Oct 30, 2025: Meta prices $30B across six tranches (5–40yr) on ~$125B of orders — the largest investment-grade deal of 2025, raised as Meta’s quarterly capex passes $21B (Bloomberg, Oct 30, 2025).
  3. 3Q1 2026 — Alphabet ~$31B Multi-Currency: Feb 9–11, 2026: Alphabet raises ~$31B — $20B USD across 7 tranches (incl. 40yr) plus ~$11B GBP/CHF including a 100-year sterling bond — days after guiding 2026 capex to $175–185B (CNBC, Feb 10, 2026; Cleary Gottlieb closing notice).
Press / analyst print

Source: AMZN Q3 2025 10-Q, META Q3 2025 10-Q, GOOGL Q3 2025 10-Q, MSFT FY26 Q1 10-Q, AMZN 2025 10-K, META 2025 10-K and 6 more · Basis: reported · Anonymous view: the newest 3 observations per series (Aug 2025–Feb 2026); 56 earlier prints back to 2022 — full ledger is Pro.

Prints ledger

Prints ledger: every observation in this dataset with its period, value, basis, type, confidence and source
Note and copy
Q1 2026Microsoft30.876
Q1 2026Alphabet35.674
Q1 2026Amazon44.203
Q1 2026Meta18.997
Q4 2025Alphabet27.851
Q4 2025Amazon39.522
Q4 2025Microsoft29.876
Q4 2025Meta21.383
Q3 2025Microsoft19.394
Q3 2025Alphabet23.953
Q3 2025Amazon35.095
Q3 2025Meta18.829
Microsoft: 14 earlier prints, Q1 2022–Q2 2025 — full ledger is Pro
Alphabet: 14 earlier prints, Q1 2022–Q2 2025 — full ledger is Pro
Amazon: 14 earlier prints, Q1 2022–Q2 2025 — full ledger is Pro
Meta: 14 earlier prints, Q1 2022–Q2 2025 — full ledger is Pro
Showing the newest 3 observations per series (Q3 2025–Q1 2026); 56 earlier observations (Q1 2022–Q2 2025) are in Pro.

Provenance

Quarterly purchases of property and equipment as reported in 10-Q/10-K cash-flow statements (SEC EDGAR); every point cites its filing accession number. Microsoft fiscal quarters (FY ends June 30) are mapped to calendar quarters. Where filings disclose only year-to-date cash flows, discrete quarters are derived by differencing (SA computation, noted per point). Meta 2022-2023 values reflect current (restated) presentation. Demand-side complement to the Semiconductor Capex (supplier-side) dataset.

Basis: as reported

Quarterly purchases of property and equipment as reported in 10-Q/10-K cash-flow statements; every point cites its filing accession number. Total capex, NOT an AI-only carve-out.

Sources

  • MSFT FY22 Q3 10-Q (SEC 0001564590-22-015675) (Apr 2022)
  • GOOGL Q1 2022 10-Q (SEC 0001652044-22-000029) (Apr 2022)
  • AMZN Q1 2022 10-Q (SEC 0001018724-22-000013) (Apr 2022)
  • META Q1 2022 10-Q (SEC 0001326801-22-000057) (Apr 2022)
  • MSFT FY22 10-K (SEC 0001564590-22-026876) (Jul 2022)
  • AMZN Q2 2022 10-Q (SEC 0001018724-22-000019) (Jul 2022)
  • META Q2 2022 10-Q (SEC 0001326801-22-000082) (Jul 2022)
  • GOOGL Q2 2022 10-Q (SEC 0001652044-22-000071) (Jul 2022)
  • MSFT FY23 Q1 10-Q (SEC 0001564590-22-035087) (Oct 2022)
  • AMZN Q3 2022 10-Q (SEC 0001018724-22-000023) (Oct 2022)
  • META Q3 2022 10-Q (SEC 0001326801-22-000108) (Oct 2022)
  • GOOGL Q3 2022 10-Q (SEC 0001652044-22-000090) (Oct 2022)
  • MSFT FY23 Q2 10-Q (SEC 0001564590-23-000733) (Jan 2023)
  • AMZN 2022 10-K (SEC 0001018724-23-000004) (Feb 2023)
  • META 2024 10-K (SEC 0001326801-25-000017) (Jan 2025)
  • GOOGL 2022 10-K (SEC 0001652044-23-000016) (Feb 2023)
  • MSFT FY23 Q3 10-Q (SEC 0000950170-23-014423) (Apr 2023)
  • META Q1 2024 10-Q (SEC 0001326801-24-000049) (Apr 2024)
  • AMZN Q1 2023 10-Q (SEC 0001018724-23-000008) (Apr 2023)
  • GOOGL Q1 2023 10-Q (SEC 0001652044-23-000045) (Apr 2023)
  • MSFT FY23 10-K (SEC 0000950170-23-035122) (Jul 2023)
  • META Q2 2024 10-Q (SEC 0001326801-24-000069) (Aug 2024)
  • AMZN Q2 2023 10-Q (SEC 0001018724-23-000012) (Aug 2023)
  • GOOGL Q2 2023 10-Q (SEC 0001652044-23-000070) (Jul 2023)
  • MSFT FY24 Q1 10-Q (SEC 0000950170-23-054855) (Oct 2023)
  • GOOGL Q3 2023 10-Q (SEC 0001652044-23-000094) (Oct 2023)
  • AMZN Q3 2023 10-Q (SEC 0001018724-23-000018) (Oct 2023)
  • META Q3 2024 10-Q (SEC 0001326801-24-000081) (Oct 2024)
  • AMZN 2023 10-K (SEC 0001018724-24-000008) (Feb 2024)
  • MSFT FY24 Q2 10-Q (SEC 0000950170-24-008814) (Jan 2024)
  • GOOGL 2023 10-K (SEC 0001652044-24-000022) (Jan 2024)
  • AMZN Q1 2024 10-Q (SEC 0001018724-24-000083) (May 2024)
  • MSFT FY24 Q3 10-Q (SEC 0000950170-24-048288) (Apr 2024)
  • GOOGL Q1 2024 10-Q (SEC 0001652044-24-000053) (Apr 2024)
  • AMZN Q2 2024 10-Q (SEC 0001018724-24-000130) (Aug 2024)
  • MSFT FY24 10-K (SEC 0000950170-24-087843) (Jul 2024)
  • GOOGL Q2 2024 10-Q (SEC 0001652044-24-000079) (Jul 2024)
  • AMZN Q3 2024 10-Q (SEC 0001018724-24-000161) (Nov 2024)
  • MSFT FY25 Q1 10-Q (SEC 0000950170-24-118967) (Oct 2024)
  • GOOGL Q3 2024 10-Q (SEC 0001652044-24-000118) (Oct 2024)
  • AMZN 2024 10-K (SEC 0001018724-25-000004) (Feb 2025)
  • GOOGL 2024 10-K (SEC 0001652044-25-000014) (Feb 2025)
  • MSFT FY25 Q2 10-Q (SEC 0000950170-25-010491) (Jan 2025)
  • META Q1 2025 10-Q (SEC 0001326801-25-000054) (May 2025)
  • AMZN Q1 2025 10-Q (SEC 0001018724-25-000036) (May 2025)
  • GOOGL Q1 2025 10-Q (SEC 0001652044-25-000043) (Apr 2025)
  • MSFT FY25 Q3 10-Q (SEC 0000950170-25-061046) (Apr 2025)
  • META Q2 2025 10-Q (SEC 0001628280-25-036791) (Jul 2025)
  • AMZN Q2 2025 10-Q (SEC 0001018724-25-000086) (Aug 2025)
  • GOOGL Q2 2025 10-Q (SEC 0001652044-25-000062) (Jul 2025)
  • MSFT FY25 10-K (SEC 0000950170-25-100235) (Jul 2025)
  • AMZN Q3 2025 10-Q (SEC 0001018724-25-000123) (Oct 2025)
  • META Q3 2025 10-Q (SEC 0001628280-25-047240) (Oct 2025)
  • GOOGL Q3 2025 10-Q (SEC 0001652044-25-000091) (Oct 2025)
  • MSFT FY26 Q1 10-Q (SEC 0001193125-25-256321) (Oct 2025)
  • AMZN 2025 10-K (SEC 0001018724-26-000004) (Feb 2026)
  • META 2025 10-K (SEC 0001628280-26-003942) (Jan 2026)
  • GOOGL 2025 10-K (SEC 0001652044-26-000018) (Feb 2026)
  • MSFT FY26 Q2 10-Q (SEC 0001193125-26-027207) (Jan 2026)
  • META Q1 2026 10-Q (SEC 0001628280-26-028526) (Apr 2026)
  • GOOGL Q1 2026 10-Q (SEC 0001652044-26-000048) (Apr 2026)
  • AMZN Q1 2026 10-Q (SEC 0001018724-26-000014) (Apr 2026)
  • MSFT FY26 Q3 10-Q (SEC 0001193125-26-191507) (Apr 2026)

Suggested citation

Silicon Analysts, "Hyperscaler AI Capex by Company", as of Apr 2026, https://siliconanalysts.com/market-data/hyperscaler-ai-capex, retrieved September 29, 2026.

API: /api/v1/market-data/hyperscaler-ai-capexCSVLicence

Showing the newest 3 observations per series (Q3 2025–Q1 2026); 56 earlier observations (Q1 2022–Q2 2025) are in Pro.

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Frequently Asked Questions

How much are hyperscalers spending on AI capex per quarter?
In Q1 2026, Microsoft, Alphabet, Amazon, and Meta reported a combined $129.8B of capital expenditure in a single quarter — Amazon $44.2B, Alphabet $35.7B, Microsoft $30.9B, and Meta $19.0B — versus a combined run rate of roughly $36–39B per quarter in 2022. Over the trailing four quarters (Q2 2025 through Q1 2026) the four companies spent $433.9B, all figures taken directly from 10-Q/10-K cash-flow statements filed with the SEC.
Is hyperscaler capex the same as AI spending?
Not exactly. These figures are total cash purchases of property and equipment from each company’s cash-flow statement, which include non-AI infrastructure (Amazon’s fulfillment network, office real estate, general cloud capacity). The companies themselves attribute the overwhelming majority of the increase since 2023 to AI and cloud infrastructure — data centers, servers, and networking — and the trajectory (roughly 3.4x the 2022 quarterly run rate by Q1 2026) tracks the AI buildout. Figures exclude leased capacity and off-balance-sheet vehicles such as Meta’s ~$27B Hyperion SPV.
How does hyperscaler capex compare to semiconductor supplier capex?
The four hyperscalers spent $433.9B in the trailing four quarters through Q1 2026 — roughly 4x the combined ~$110B annual capex of TSMC, Samsung, Micron, and SK Hynix tracked in the companion Semiconductor Capex dataset. The buyer side of the AI supply chain is outspending the chip-supplier side by a wide margin, because data center capex includes buildings, power, cooling, servers, and networking on top of the chips themselves.