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

## What this measures

Combined trailing-twelve-month capital expenditure of Microsoft, Alphabet, Meta and Amazon, measured in billions of dollars. It captures cash purchases of property and equipment, primarily data-center infrastructure and AI computing capacity.

## Background

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

Cash purchases of property and equipment from the company's 10-Q and 10-K filings (SEC EDGAR XBRL, us-gaap PaymentsToAcquirePropertyPlantAndEquipment or PaymentsToAcquireProductiveAssets, whichever the company currently files). Cash-flow statements are year-to-date, so quarters are derived by differencing within each fiscal year; the fourth quarter is the annual figure minus nine months. Excludes assets acquired under finance leases, which Microsoft and Amazon add to their headline capex, so these read below company press releases. Synced weekly by /api/cron/edgar-capex-sync.

## Why it matters

These four companies account for the majority of global cloud and AI infrastructure investment. Their spending pace signals where the industry expects demand for compute-intensive services and shapes the outlook for semiconductor makers, data-center operators and power providers. Shifts in this series reflect changes in hyperscaler confidence about revenue growth and return on capital.

## How to read it

A rising series indicates expanding capacity and confidence in demand for cloud and AI workloads. A plateau or decline suggests capex discipline, demand uncertainty or a shift in capital allocation. Compare the rate of change across quarters to assess whether the build-out is accelerating or cooling.

## What it does not say

It does not include assets acquired under finance leases, which some companies report in their headline capex figures. It does not reveal how spending is distributed across geographies, product lines or individual companies, nor does it indicate whether the capacity being built will generate positive returns.

## 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.