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05-07 03:16

$Microsoft(MSFT)$  $Alphabet(GOOG)$  $Amazon.com(AMZN)$  $Meta Platforms, Inc.(META)$  

The Mag 4, Microsoft (MSFT), Alphabet (GOOG), Amazon (AMZN), and Meta Platforms (META), have entered a major phase of the AI arm race, with $725 billion in combined capital expenditure (CapEx) projected for 2026。。。

MSFT and GOOG lead the fiscal charge with record hardware investments; AMZN and META follow with multi-billion-dollar allocations to dominate the cloud market

Capturing CapEx depends on execution and partnerships; cloud providers, semiconductor makers, and infrastructure integrators stand to benefit; differentiation and supply chain strategy will determine the winners

Sky-high CapEx reflects confidence in digital transformation, AI, and cloud; inflation and global risks may temper returns, long-term trends support continued deployment, efficiency, scalability, and strategic alignment remain key

The market has shifted from a "Chip Story" to an "Infrastructure Story"; $725B is captured by those controlling land, power, and cooling, while the Mag 4 race to monetize capacity

Mag 4 Capex & Cloud Recap: $725B CapEx, Who’s Going to Secure the Bag?

@Tiger_comments：
Markets rally prompted by good earnings. Big Tech took turns proving the bull case, recovering March's tariff-driven selloff. How's everything going so far? $Alphabet(GOOG)$ surged +10% in a single session after Cloud revenue grew +63.4%, killing the "Google is losing the AI race" narrative. $Apple(AAPL)$ +2.56% post-earnings on a record March quarter. $Amazon.com(AMZN)$ posted $23.9B in operating income, a 14% beat. $Meta Platforms, Inc.(META)$ delivered +28.7% ad revenue growth but lost 9% due to capex concerns. $Microsoft(MSFT)$ is worse, still the worst performer among mag 7. Its capex slows down. Another company affected by the mag earnings is$$NVD$$ -5%, falling back below the $5T market cap. A new high-efficiency model release that the market read as "better models = less compute demand." But $725B in committed hyperscaler CapEx is already locked, B300 servers pricing near $1M, and supply tightness hasn't changed. Let's take a look at the most important parts: capex and cloud. 💰 CapEx Summary Cloud Revenue Comparison: Constrained by supply — not by demand. Google Cloud's acceleration was the biggest surprise of the night: +63.4% from +48% last quarter, Cloud op margin cracking 30% for the first time. Management's exact words: "If we had more compute, cloud revenue would have been higher." ——————- Jefferies analyst Brent Thill: "We're seeing bottlenecks across the board" — memory, fiber, power, cooling water, undeveloped land. Every layer in the AI infrastructure stack is supply-constrained and repricing. $725B of committed spend means the picks-and-shovels trade just got a hard floor under it. $725B in committed CapEx. Who actually captures it? How do you view the sky-high capex? Leave your comments to join our Mag7 series to win at least 5 tiger coins~
Mag 4 Capex & Cloud Recap: $725B CapEx, Who’s Going to Secure the Bag?
# ARM Drops, Chip Stocks Retreat: Brief AI Bull Market Pullback or Is It Over?

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