Hyperscaler capex, quarter by quarter
Alphabet, Amazon, Meta, Microsoft and Oracle reported $237B of capex in Q3 2026, +95% on the $122B of Q3 2025. Amazon led with $77.3B. Calendar 2026 guidance: Amazon about $220B, Alphabet $195B to $205B, Microsoft about $170B, Meta $135B to $145B. One row per company per quarter, each figure linked to its filing.
Last verified
CAPEX BY CALENDAR QUARTER, US BIG FIVE, USD
- Microsoft
- Alphabet
- Amazon
- Meta
- Oracle
| Calendar quarter | Microsoft | Alphabet | Amazon | Meta | Oracle |
|---|---|---|---|---|---|
| Q1 2025 | $21.4B | $17.2B | $25B | $13.7B | $5.9B |
| Q2 2025 | $24.2B | $22.4B | $32.2B | $17B | $9.1B |
| Q3 2025 | $34.9B | $24B | $35.1B | $19.4B | $8.5B |
| Q4 2025 | $37.5B | $27.9B | $39.5B | $22.1B | $12B |
| Q1 2026 | $31.9B | $35.7B | $44.2B | $19.8B | $18.6B |
| Q2 2026 | $41B | $44.9B | $54.2B | $31.1B | $16.5B |
| Q3 2026 | $45.2B | $51.4B | $77.3B | $34.9B | $28.5B |
Each company’s headline capex as reported: Amazon and Oracle count cash purchases, Microsoft and Meta include finance leases. Definitions
| Alphabet — CY2026 Q3 | 2026 Q3 | 51,4001 | — | — | CY2026 | 195,0001 | 205,0001 | — | 2026-11-11 |
|---|---|---|---|---|---|---|---|---|---|
| Amazon — CY2026 Q3 | 2026 Q3 | 77,2591 | — | 75,9002 | CY2026 | — | — | 220,0001 | 2026-11-11 |
| Apple — FY2026 Q4 | 2026 Q3 | 2,2421 | — | — | — | — | — | — | 2026-11-11 |
| CoreWeave — CY2026 Q3 | 2026 Q3 | 9,4411 | — | — | CY2026 | 37,0001 | 39,0001 | — | 2026-11-11 |
| IBM — CY2026 Q3 | 2026 Q3 | 4571 | — | — | — | — | — | — | 2026-11-11 |
| IREN — FY2027 Q1 | 2026 Q3 | 4,8241 | — | — | — | — | — | — | 2026-11-11 |
| Meta — CY2026 Q3 | 2026 Q3 | 34,9101 | — | — | CY2026 | 135,0001 | 145,0001 | — | 2026-11-11 |
| Microsoft — FY2027 Q1 | 2026 Q3 | 45,2001 | — | 39,4001 | CY2026 | — | — | 170,0001 | 2026-11-11 |
| Oracle — FY2027 Q1 | 2026 Q3 | 28,4991 | — | — | — | — | — | — | 2026-11-11 |
| Alibaba — CY2026 Q2 | 2026 Q2 | — | 67,6781 | — | — | — | — | — | 2026-11-11 |
| Alphabet — CY2026 Q2 | 2026 Q2 | 44,9001 | — | — | CY2026 | 195,0001 | 205,0001 | — | 2026-11-11 |
| Amazon — CY2026 Q2 | 2026 Q2 | 54,2081 | — | — | — | — | — | — | 2026-11-11 |
| Apple — FY2026 Q3 | 2026 Q2 | 2,4551 | — | — | — | — | — | — | 2026-11-11 |
| Baidu — CY2026 Q2 | 2026 Q2 | — | 11,3901 | — | — | — | — | — | 2026-11-11 |
| CoreWeave — CY2026 Q2 | 2026 Q2 | 6,4221 | — | — | — | — | — | — | 2026-11-11 |
| IREN — FY2026 Q4 | 2026 Q2 | 1,9781 | — | — | — | — | — | — | 2026-11-11 |
| Meta — CY2026 Q2 | 2026 Q2 | 31,0801 | — | — | CY2026 | 130,0001 | 145,0001 | — | 2026-11-11 |
| Microsoft — FY2026 Q4 | 2026 Q2 | 41,0001 | — | 35,8001 | CY2026 | — | — | 175,0001 | 2026-11-11 |
| Nebius — CY2026 Q2 | 2026 Q2 | 5,657.41 | — | — | — | — | — | — | 2026-11-11 |
| Oracle — FY2026 Q4 | 2026 Q2 | 16,4931 | — | — | — | — | — | — | 2026-11-11 |
| Tencent — CY2026 Q2 | 2026 Q2 | — | 52,7841 | — | — | — | — | — | 2026-11-11 |
| Alibaba — CY2026 Q1 | 2026 Q1 | — | 26,8871 | — | — | — | — | — | 2026-11-11 |
| Alphabet — CY2026 Q1 | 2026 Q1 | 35,7001 | — | — | CY2026 | 180,0001 | 190,0001 | — | 2026-11-11 |
| Amazon — CY2026 Q1 | 2026 Q1 | 44,2031 | — | — | — | — | — | — | 2026-11-11 |
| Apple — FY2026 Q2 | 2026 Q1 | 1,9711 | — | — | — | — | — | — | 2026-11-11 |
| Baidu — CY2026 Q1 | 2026 Q1 | — | 5,9161 | — | — | — | — | — | 2026-11-11 |
| CoreWeave — CY2026 Q1 | 2026 Q1 | 7,6951 | — | — | — | — | — | — | 2026-11-11 |
| Meta — CY2026 Q1 | 2026 Q1 | 19,8401 | — | — | CY2026 | 125,0001 | 145,0001 | — | 2026-11-11 |
| Microsoft — FY2026 Q3 | 2026 Q1 | 31,9001 | — | 30,9001 | CY2026 | — | — | 190,0001 | 2026-11-11 |
| Nebius — CY2026 Q1 | 2026 Q1 | 2,472.91 | — | — | — | — | — | — | 2026-11-11 |
| Oracle — FY2026 Q3 | 2026 Q1 | 18,6351 | — | — | FY2026 | — | — | 50,0001 | 2026-11-11 |
| Tencent — CY2026 Q1 | 2026 Q1 | — | 31,9361 | — | — | — | — | — | 2026-11-11 |
| Alibaba — CY2025 Q4 | 2025 Q4 | — | 28,9991 | — | — | — | — | — | 2026-11-11 |
| Alphabet — CY2025 Q4 | 2025 Q4 | 27,9001 | — | — | CY2026 | 175,0001 | 185,0001 | — | 2026-11-11 |
| Amazon — CY2025 Q4 | 2025 Q4 | 39,5221 | — | — | CY2026 | — | — | 200,0001 | 2026-11-11 |
| Apple — FY2026 Q1 | 2025 Q4 | 2,3731 | — | — | — | — | — | — | 2026-11-11 |
| CoreWeave — CY2025 Q4 | 2025 Q4 | 4,0601 | — | — | — | — | — | — | 2026-11-11 |
| Meta — CY2025 Q4 | 2025 Q4 | 22,1401 | — | — | CY2026 | 115,0001 | 135,0001 | — | 2026-11-11 |
| Microsoft — FY2026 Q2 | 2025 Q4 | 37,5001 | — | 29,9001 | — | — | — | — | 2026-11-11 |
| Nebius — CY2025 Q4 | 2025 Q4 | 2,0561 | — | — | — | — | — | — | 2026-11-11 |
| Oracle — FY2026 Q2 | 2025 Q4 | 12,0331 | — | — | — | — | — | — | 2026-11-11 |
| Tencent — CY2025 Q4 | 2025 Q4 | — | 19,6321 | — | — | — | — | — | 2026-11-11 |
| Alibaba — CY2025 Q3 | 2025 Q3 | — | 31,5011 | — | — | — | — | — | 2026-11-11 |
| Alphabet — CY2025 Q3 | 2025 Q3 | 24,0001 | — | — | CY2025 | 91,0001 | 93,0001 | — | 2026-11-11 |
| Amazon — CY2025 Q3 | 2025 Q3 | 35,0951 | — | 34,2002 | — | — | — | — | 2026-11-11 |
| Apple — FY2025 Q4 | 2025 Q3 | 3,2421 | — | — | — | — | — | — | 2026-11-11 |
| CoreWeave — CY2025 Q3 | 2025 Q3 | 3,278.7861 | — | — | — | — | — | — | 2026-11-11 |
| IBM — CY2025 Q3 | 2025 Q3 | 4101 | — | — | — | — | — | — | 2026-11-11 |
| Meta — CY2025 Q3 | 2025 Q3 | 19,3701 | — | — | CY2025 | 70,0001 | 72,0001 | — | 2026-11-11 |
| Microsoft — FY2026 Q1 | 2025 Q3 | 34,9001 | — | 19,4001 | — | — | — | — | 2026-11-11 |
| Nebius — CY2025 Q3 | 2025 Q3 | 955.51 | — | — | — | — | — | — | 2026-11-11 |
| Oracle — FY2026 Q1 | 2025 Q3 | 8,5021 | — | — | — | — | — | — | 2026-11-11 |
| Tencent — CY2025 Q3 | 2025 Q3 | — | 12,9831 | — | — | — | — | — | 2026-11-11 |
| Alibaba — CY2025 Q2 | 2025 Q2 | — | 38,6761 | — | — | — | — | — | 2026-11-11 |
| Alphabet — CY2025 Q2 | 2025 Q2 | 22,4001 | — | — | CY2025 | — | — | 85,0001 | 2026-11-11 |
| Amazon — CY2025 Q2 | 2025 Q2 | 32,1831 | — | — | — | — | — | — | 2026-11-11 |
| Apple — FY2025 Q3 | 2025 Q2 | 3,4621 | — | — | — | — | — | — | 2026-11-11 |
| Baidu — CY2025 Q2 | 2025 Q2 | — | 3,8001 | — | — | — | — | — | 2026-11-11 |
| CoreWeave — CY2025 Q2 | 2025 Q2 | 2,452.9921 | — | — | — | — | — | — | 2026-11-11 |
| Meta — CY2025 Q2 | 2025 Q2 | 17,0101 | — | — | CY2025 | 66,0001 | 72,0001 | — | 2026-11-11 |
| Microsoft — FY2025 Q4 | 2025 Q2 | 24,2001 | — | 17,1001 | — | — | — | — | 2026-11-11 |
| Nebius — CY2025 Q2 | 2025 Q2 | 510.61 | — | — | — | — | — | — | 2026-11-11 |
| Oracle — FY2025 Q4 | 2025 Q2 | 9,0801 | — | — | — | — | — | — | 2026-11-11 |
| Tencent — CY2025 Q2 | 2025 Q2 | — | 19,1071 | — | — | — | — | — | 2026-11-11 |
| Alphabet — CY2025 Q1 | 2025 Q1 | 17,2001 | — | — | CY2025 | — | — | 75,0001 | 2026-11-11 |
| Amazon — CY2025 Q1 | 2025 Q1 | 25,0191 | — | — | — | — | — | — | 2026-11-11 |
| Apple — FY2025 Q2 | 2025 Q1 | 3,0711 | — | — | — | — | — | — | 2026-11-11 |
| CoreWeave — CY2025 Q1 | 2025 Q1 | 1,407.3591 | — | — | — | — | — | — | 2026-11-11 |
| Meta — CY2025 Q1 | 2025 Q1 | 13,6901 | — | — | CY2025 | 64,0001 | 72,0001 | — | 2026-11-11 |
| Microsoft — FY2025 Q3 | 2025 Q1 | 21,4001 | — | 16,7001 | — | — | — | — | 2026-11-11 |
| Nebius — CY2025 Q1 | 2025 Q1 | 543.91 | — | — | — | — | — | — | 2026-11-11 |
| Oracle — FY2025 Q3 | 2025 Q1 | 5,8621 | — | — | — | — | — | — | 2026-11-11 |
| Tencent — CY2025 Q1 | 2025 Q1 | — | 27,4761 | — | — | — | — | — | 2026-11-11 |
| Amazon — CY2024 Q4 | 2024 Q4 | 27,8341 | — | — | — | — | — | — | 2026-11-11 |
| Apple — FY2025 Q1 | 2024 Q4 | 2,9401 | — | — | — | — | — | — | 2026-11-11 |
| Microsoft — FY2025 Q2 | 2024 Q4 | 22,6001 | — | 15,8001 | — | — | — | — | 2026-11-11 |
| Oracle — FY2025 Q2 | 2024 Q4 | 3,9701 | — | — | — | — | — | — | 2026-11-11 |
| Tencent — CY2024 Q4 | 2024 Q4 | — | 36,5781 | — | — | — | — | — | 2026-11-11 |
| Amazon — CY2024 Q3 | 2024 Q3 | 22,6201 | — | — | — | — | — | — | 2026-11-11 |
| Oracle — FY2025 Q1 | 2024 Q3 | 2,3031 | — | — | — | — | — | — | 2026-11-11 |
| Amazon — CY2024 Q2 | 2024 Q2 | 17,6201 | — | — | — | — | — | — | 2026-11-11 |
| Amazon — CY2024 Q1 | 2024 Q1 | 14,9251 | — | — | — | — | — | — | 2026-11-11 |
Capex guidance, latest from each company
As of each earnings date| Company | Guidance for | Capex guided | Latest quarter | Given on |
|---|---|---|---|---|
| CoreWeave | CY2026 | $37B to $39B | $9.4B Q3 2026 | 10 Nov 2026 |
| Amazon | CY2026 | about $220B | $77.3B Q3 2026 | 29 Oct 2026 |
| Alphabet | CY2026 | $195B to $205B | $51.4B Q3 2026 | 28 Oct 2026 |
| Microsoft | CY2026 | about $170B | $45.2B Q3 2026 | 28 Oct 2026 |
| Meta | CY2026 | $135B to $145B | $34.9B Q3 2026 | 21 Oct 2026 |
| Oracle | FY2026 | about $50B | $18.6B Q1 2026 | 10 Mar 2026 |
Guidance is the company’s own wording on that call or release. Amazon guides to cash capex; Microsoft’s calendar-year figure includes finance leases. Open a row for the exact statement.
Browse by group and company
- US hyperscalersAlphabet, Amazon, Meta, Microsoft and Oracle
- NeocloudsCoreWeave, Nebius and IREN
- China cloudAlibaba, Baidu and Tencent, reported in renminbi exactly as filed.
- Other platformsApple and IBM
- Microsoft8 readings, latest Q3 2026
- Alphabet7 readings, latest Q3 2026
- Amazon11 readings, latest Q3 2026
- Meta7 readings, latest Q3 2026
- Oracle9 readings, latest Q3 2026
- CoreWeave7 readings, latest Q3 2026
- Nebius6 readings, latest Q2 2026
- Alibaba5 readings, latest Q2 2026
- Tencent7 readings, latest Q2 2026
- Baidu3 readings, latest Q2 2026
- Apple8 readings, latest Q3 2026
How this table is built
Full methodologyEvery figure comes from the company’s own earnings release, 10-Q or call transcript. The small number next to a figure opens that source. An empty cell means the company did not state the figure; we never estimate.
Each reading shows the definition behind its capex line, because Amazon, Microsoft, Meta, Oracle and the neoclouds count different things. Apple and Oracle report cumulative cash flows, so we show the subtraction.
Free to reuse under CC BY 4.0 with a link to this page: CSV, JSON, llms.txt. Spot a number out of date? Email desk@hyperscalerscapex.com.
Questions analysts ask
How much do the hyperscalers spend on capex each quarter?
In the third calendar quarter of 2026, Amazon reported $77.3 billion, Alphabet $51.4 billion, Microsoft $45.2 billion, Meta $34.9 billion and Oracle $28.5 billion. Each row links to the release that states its figure.
Is capex the same measure at every company?
No, and every row says which one it is. Amazon reports gross cash purchases of property and equipment. Microsoft and Meta include finance leases in their headline capex. Microsoft also reports cash paid for property and equipment, and the table keeps both. The Capex definition field on each reading spells out what the figure counts.
Why are Microsoft and Oracle quarters labelled FY?
Their fiscal years end in June and May. Each reading keeps the company’s own label and adds a calendar quarter, so Microsoft FY2027 Q1 (July to September 2026) sits in 2026 Q3 next to Alphabet’s third quarter.
Where do I find 2026 capex guidance?
The guidance board on the home page lists each company’s latest outlook, and every reading carries the guidance given on its earnings date. Alphabet guided to $195 to $205 billion, Meta to $135 to $145 billion and Microsoft to about $170 billion for calendar 2026, and Amazon to about $220 billion.
Can I download the data?
Yes: the full table is free under CC BY 4.0 as CSV and JSON, with a link back to hyperscalerscapex.com.