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How much are big tech companies spending on AI data centers?

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$165.1B Microsoft, Alphabet, Amazon and Meta spent $165.1 billion on property and equipment from April to June 2026, up 87% from $88.2 billion a year earlier.

The four spent $376.1 billion in calendar 2025 and $294.8 billion in the first half of 2026.

Primary data · our calculation from filings · Source: 10-Q and 10-K filings · Download the data

$39.4B Microsoft spent $39.4 billion on property and equipment from July to September 2026, up 103% from $19.4 billion a year earlier.

Meta spent $33.9 billion on property and equipment from July to September 2026, up 80% from $18.8 billion a year earlier. Oracle spent $28.5 billion from June to August 2026, 3.4 times the $8.5 billion it spent a year earlier. Alphabet and Amazon had not filed for July to September 2026 when we checked on October 28, 2026.

Primary data · Source: Microsoft 10-Q, Meta 10-Q, Oracle 10-Q

Quarterly capital spending has nearly doubled in a year

Purchases of property and equipment, billions of US dollars, by the calendar quarter in which each company's fiscal quarter ends

Microsoft
Alphabet
Amazon
Meta
Oracle

Source: SEC filings of each company, our calculation. Oracle's fiscal quarters end in February, May, August and November.Download CSV

The figures depend on the definition

Not all of this is AI, and companies count it differently

$54.2BAmazon, purchases of property and equipment · Q2 2026

$53.1BAmazon, cash capex net of sales and incentives · Q2 2026

Amazon's gross purchases of property and equipment were $54.2 billion from April to June 2026; its own cash capital expenditures figure, net of proceeds from sales and incentives, was $53.1 billion. Amazon says the spending primarily reflects investments in technology infrastructure, the majority of it for AWS, and in additional capacity for its fulfillment network.

Meta reports capital expenditures including principal payments on finance leases: $34.91 billion for July to September 2026, against the $33.9 billion of purchases of property and equipment shown here. This tracker leaves out finance leases for every company, so it understates what each one adds in data center capacity.

Sources: Amazon 10-Q for the quarter ending June 30, 2026; Meta 10-Q for the quarter ending September 30, 2026

What comes next

Meta says it expects capital expenditures of about $135 billion to $145 billion in 2026. Estimate

Oracle says it expects capital expenditures in fiscal 2027, which ends in May 2027, to be higher than in fiscal 2026. Estimate

The IEA said in April 2026 that the capital expenditure of five large technology companies surged to more than $400 billion in 2025 and is set to increase by a further 75% in 2026. Estimate

The IEA's press release doesn't name the five companies, so its figure can't be checked against this tracker.

How it's measured

Each figure is the cash a company spent buying property and equipment in a quarter, from the cash flow statement in its 10-Q or 10-K filing with the SEC. Companies report year-to-date totals in later quarters, so we subtract the prior filing's year-to-date figure to get the quarter; those cells carry an asterisk. Every figure was checked against the filing's tagged data and the SEC's company facts on October 28, 2026.

Microsoft: Additions to property and equipment
Alphabet: Purchases of property and equipment
Amazon: Purchases of property and equipment, before proceeds from sales and incentives
Meta: Purchases of property and equipment, excluding finance lease payments
Oracle: Capital expenditures

Not all of it is AI. None of the five breaks out AI spending. The figures include offices, warehouses and other buildings, and Amazon's include its fulfillment network.

Every quarter, every filing

Purchases of property and equipment, millions of US dollars, by calendar quarter. Each figure links to the filing it comes from. * Derived: the year-to-date figure in that filing minus the one in the filing before.
Company	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Microsoft	16,745	17,079*	19,394	29,876	30,876	35,802*	39,367
Alphabet	17,197	22,446*	23,953*	27,851*	35,674	44,924*	Not yet filed
Amazon	25,019	32,183	35,095	39,522*	44,203	54,208	Not yet filed
Meta	12,941	16,538*	18,829*	21,383*	18,997	30,116*	33,942*
Oracle	5,862*	9,080*	8,502	12,033*	18,635*	16,493*	28,499
Total	77,764	97,326	105,773	130,665	148,385	181,543	101,808 (partial)

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