TrendForce's tally of the industry's biggest cloud spenders keeps climbing. Combining Google, Amazon, Meta, Microsoft, Oracle, ByteDance, Tencent, Alibaba and Baidu, it now forecasts their combined 2026 capital expenditure will exceed $886.7 billion, with the five North American hyperscalers accounting for nearly 90% of it
TrendForce, a market research company, forecasts that the combined capital expenditure of nine major cloud service providers (CSPs) will exceed $886.7 billion in 2026. This projection includes Google, Amazon, Meta, Microsoft, Oracle, ByteDance, Tencent, Alibaba, and Baidu. The five North American hyperscalers are expected to account for nearly 90% of this spending, reflecting continued investment in AI infrastructure.
Verified 2026-09-16
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Hyperscalers, the giant cloud firms, are behind most AI spending, and North American ones dominate.
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- While Amazon, Microsoft, Meta, Alphabet and Oracle have all sharply increased AI capital spending, Apple's cash paid for property, plant and equipment in the nine months to 27 June 2026 actually fell, to Apple's nine-month capex of $6.8 billion, down 28% from $9.47 billion a year earlier
- A Brookings Papers draft by Columbia's Stijn Van Nieuwerburgh projects that the US AI build-out of 2025 to 2032 will absorb, every year, 3.63% of GDP, versus 2.24% for the railroads of 1870–1890
- Global private investment in AI reached $344.7 billion in 2025, up 127.5% year-over-year, with generative AI companies alone capturing $170.9 billion of that total
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