capital expenditure

Goldman Sachs sharply raises chip equipment spending forecast through 2028

Goldman Sachs The Goldman Sachs Group, Inc. issued a sweeping upward revision to its global wafer fab equipment spending forecasts on Saturday, projecting the semiconductor capital expenditure boom will accelerate through the end of the decade as memory chips, advanced…

Microsoft’s $678B backlog fuels AI optimism amid capex scrutiny

Microsoft closed its fiscal 2026 fourth quarter with Azure and other cloud services growing 43% year-over-year, pushing the unit past $100 billion in annual revenue for the first time. The milestone, reported on July 29, has reshaped the competitive landscape…

Fund managers rank AI spending as top credit risk

The largest technology companies are on track to spend between $725 billion and $760 billion on capital expenditures in 2026, a historic acceleration driven almost entirely by artificial intelligence infrastructure. But as the commitments grow, so do warnings from Wall…

ByteDance’s $20B loan draws over $30B in orders

ByteDance, the Beijing-based developer of TikTok, has attracted more than $30 billion in orders from lenders for its $20 billion syndicated loan, according to Bloomberg, a clear sign of strong appetite among global banks to finance the Chinese tech giant's…

Tech giants’ AI debt tops $236B as bond markets absorb record borrowing

The AI industry's financing demands have crossed a threshold that is reshaping credit markets. As of late May 2026, total AI-related debt issuance reached approximately $236 billion — four times the amount from the same period last year — according…

Global chip market forecast raised to $1.65T as AI spending soars

America's largest technology companies are pouring money into artificial intelligence at a pace that is making the current boom the largest investment surge in history, even as questions mount over whether revenues can catch up.

Alphabet plans first Australian dollar bond to fund AI buildout

Alphabet has hired banks to arrange its first-ever Australian dollar bond offering, extending the Google parent's aggressive multi-currency borrowing campaign to yet another market as U.S. tech giants tap global debt to finance artificial intelligence infrastructure.

TSMC approves $29.4B capital budget, Sony joint venture

Taiwan Semiconductor Manufacturing Co. approved a capital budget of approximately $29.44 billion following a two-day board meeting that concluded Tuesday, as the world's largest contract chipmaker moves to expand capacity amid surging demand for artificial intelligence chips.

Big Tech’s AI spending tops $740B in 2026, up 77%

Amazon Amazon.com, Inc., Alphabet, Meta, and Microsoft are on track to spend a combined $740 billion or more on artificial intelligence infrastructure in 2026, roughly 77 percent above what the same four companies spent the prior year. The figure represents…

Big Tech’s AI buildout drives $1.46T in physical assets

The four largest U.S. technology companies spent a combined $170 billion on capital expenditures in the second quarter of 2026, a 72 percent increase from a year earlier, as the artificial intelligence infrastructure buildout enters a new phase defined not…

Alphabet raises $25B in bonds, draws $115B in orders

Alphabet sold $25 billion of investment-grade bonds on Thursday, drawing roughly $115 billion in investor orders for one of the year's largest debt offerings, as the Google parent taps credit markets to bankroll a sharp expansion in artificial intelligence spending.

Alphabet launches 10-part bond sale to fund AI buildout

Alphabet Inc. has begun marketing a sweeping 10-part U.S. investment-grade bond offering on Thursday, testing investor demand just weeks after its raised capital-expenditure forecast helped trigger a broader selloff in AI-related debt.

Cloud giants raise capex forecasts to $595B as AI demand outstrips capacity

Global spending on cloud infrastructure services reached $143.4 billion in the second quarter of 2026, a 43% year-over-year increase that marks the fastest growth rate in eight years, according to data from Synergy Research Group published last week. The market…

Nvidia chip demand outpaces supply 12 to 1, analyst says

Wedbush Securities analyst Dan Ives said demand for Nvidia AI chips is running ahead of supply at a ratio of 12 to 1, a gap he expects to widen as physical AI applications begin to take shape.

Amazon hikes capex to $220B as memory costs soar

Shares of memory chipmakers rallied in after-hours trading Thursday after Amazon Amazon.com, Inc. and Apple both flagged escalating memory costs during their earnings calls, reinforcing expectations of a sustained supply crunch driven by insatiable AI demand.

Big Tech spent $170B on AI in one quarter as cash flow turns negative

Amazon Amazon.com, Inc., Google Alphabet Inc., Meta, and Microsoft are projected to collectively invest $1.5 trillion in data centers and AI infrastructure over 2026 and 2027, according to Wall Street estimates compiled by FactSet. The spending surge has prompted mounting…

UBS warns hyperscaler AI spending may outpace cash flow this quarter

The largest technology companies are spending at a pace that now exceeds the cash their businesses generate, forcing investors to ask a question that was once heretical during the AI boom: is this sustainable?

Microsoft signs $130B in data center leases in one quarter

Microsoft disclosed more than $130 billion in new data center leases during its fiscal fourth quarter, its largest single-quarter jump in leasing commitments by far, as the company races to build out infrastructure for artificial intelligence.

Tech giants’ AI borrowing binge drives yields higher

Oracle is emerging as the lightning rod for investor anxiety over Big Tech's debt-fueled artificial intelligence buildout, with the cost of insuring the company's bonds against default surging to record levels.

Alphabet’s century bond loses 7% as hyperscaler debt fears grow

Alphabet's landmark 100-year sterling bond has lost more than 7% of its face value since its issuance in February, as a combination of geopolitical turmoil, rising yields, and growing doubts about Big Tech's debt-fueled AI spending weigh on the instrument.

Big Tech’s AI spending set to exceed cash flow by 2027

The five largest U.S. technology companies investing in artificial intelligence infrastructure are on pace to spend more on capital expenditures than they generate in free cash flow by 2027, according to a Reuters analysis published on Tuesday that underscores the…

Morgan Stanley warns Europe’s AI spend trails U.S. by 20x

Morgan Stanley has warned that U.S. investment in artificial intelligence dwarfs European efforts by a factor of roughly 20, underscoring a widening structural gap between the two regions that analysts say no single policy measure can readily close.

TSMC raises 2026 sales growth forecast above 40% on AI demand

Taiwan Semiconductor Manufacturing Co. on Thursday raised its 2026 revenue growth forecast to more than 40 percent in U.S. dollar terms and lifted capital expenditure guidance to between $60 billion and $64 billion, underscoring the chipmaker's confidence in sustained demand…

Amazon launches $25 billion bond sale to fund AI buildout

Amazon Amazon.com, Inc. returned to the U.S. investment-grade bond market on Tuesday, launching an eight-part offering of floating and fixed-rate notes seeking to raise at least $25 billion, according to Bloomberg News as reported by Reuters. The proceeds will fund…

AI token spending index falls 20% from May high

A closely watched gauge of what the market pays for AI inference has dropped sharply from its spring peak, fueling a bruising rotation out of semiconductor and memory stocks that has wiped hundreds of billions of dollars in value across…

Goldman Sachs warns AI stocks face ‘earnings bubble’ risk

Goldman Sachs's The Goldman Sachs Group, Inc. research division issued a report on June 22 concluding that while the AI investment boom has not yet peaked, market valuations for AI-related companies have moved well ahead of what macroeconomic benchmarks can…

Goldman Sachs warns $5.3T AI spending spree risks credit market saturation

The largest capital spending cycle on record is beginning to strain the financial system that underpins it. Goldman Sachs now projects that the four leading hyperscale cloud companies — Meta, Microsoft, Amazon Amazon.com, Inc., and Alphabet — will collectively spend…