Big Tech capex doubles as buybacks fall 83%
11/01/2026 — 11/01, 07:16·1 sources (all)·1 reports (all)
Key takeaways
- A Reuters analysis of LSEG data and filings found that capex at Microsoft, Alphabet, Amazon, Meta and Oracle doubled to $556.9 billion in th…
Background & analysis
According to a Reuters analysis of LSEG data and company financial reports, capital expenditure by Microsoft, Alphabet, Amazon, Meta and Oracle doubled in the first nine months of 2026, reaching $556.9bn. That spend exceeded operating cash flow for the first time, producing a combined $14bn shortfall in free cash flow. Over the same period, stock buybacks by the five companies fell 83% to $13.6bn, and the share of cash returned to shareholders dropped to 9.3%, the lowest in at least 15 years and well down from 27.4% a year earlier. Operating cash flow across the five rose 29% to a record $542.9bn. The available reporting covers only this analysis, with no further developments recorded so far.
AI-generated from 1 reports · updated 1 hour ago
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A Reuters analysis of LSEG data and company filings shows Microsoft, Alphabet, Amazon, Meta and Oracle doubled capital spending to $556.9 billion in the first nine months of 2026, topping the cash their businesses generated for the first time and leaving a combined $14 billion free cash flow deficit. Buybacks fell 83% to $13.6 billion, and the share of operating cash returned to shareholders dropped to 9.3%, the smallest in at least 15 years.
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