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Hyperscaler capex — Microsoft, Alphabet, Meta, Amazon (trailing 12 months)

Combined trailing-twelve-month capital expenditure of Microsoft, Alphabet, Meta and Amazon, $ billions — the AI build-out in one number.

510.7 in Q2 2026the highest in data back to 2021+398.2 since Q2 2021
YTD1y2y5y10y20yAll
ForecastOffContinuationForesight™
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U.S. recessionsShades the months the NBER dates as recession. U.S. charts only.5-year rangeThe highest and lowest readings of the last five years, as a band. One-series charts only.High and lowMarks the highest and lowest readings in the window shown.
Current·Data to Q2 2026

Plays the chart through its history. Pauses are where the data set a record or moved most.

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What this chart reads

Sources

Hyperscaler capex — Microsoft, Alphabet, Meta, Amazon (trailing 12 months). Source: Palanor reads quarterly and annual XBRL filings from SEC EDGAR, a public-domain database. The series sums cash payments to acquire property, plant and equipment as reported under US GAAP by each of the four companies.

Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.

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