Big Tech’s AI Capex Will Hit $725 Billion in 2026 — What That Buys, Who Wins, and Where the Bottlenecks Are
The world’s largest cloud and internet companies are preparing to spend an extraordinary $725 billion on capital expenditures in 2026, with the lion’s share targeting hyperscale AI infrastructure. That’s a 77% jump over an already record prior year, driven by management conviction that AI will reshape search, advertising, cloud, productivity software, and e‑commerce — and…