EL7.AI
StocksMediumUpdated•Originally published 27 July 2026•Updated 27 July 2026•
2 min read

Big Tech AI Capex Set to Top $500B as Nvidia Data Center Revenue Surges

Key Facts

1Alphabet plans to spend between $195 billion and $205 billion on capital expenditures this year.

In a move signaling an unprecedented escalation in the AI infrastructure race, combined capital expenditure from Alphabet, Amazon, and Meta is projected to surpass $500 billion in 2026. Amazon plans to deploy approximately $200 billion, while Meta targets up to $145 billion, complementing Alphabet's previously announced $205 billion budget. This massive capital deployment is specifically designed to scale internal processing power and meet the surging global demand for generative AI capabilities.

The direct beneficiaries of this spending spree are already seeing significant financial impact, with Nvidia reporting a 92% year-over-year surge in data center revenue to $75.2 billion. Per market data, NVDA shares closed at $206.84 and AVGO stood at $381.92, while peers MSFT and META closed at $381.70 and $595.19 respectively (close of July 24, 2026). These figures highlight a robust correlation between hyperscaler capex and the top-line growth of semiconductor leaders.

Investors are now pivoting to assess the long-term ROI of these investments, with GOOGL shares trading at $319.74 (close of July 24, 2026). Given the lack of immediate catalysts in the upcoming economic calendar, market participants will remain focused on corporate earnings and infrastructure updates to determine if the current momentum in the technology and semiconductor sectors is sustainable.