CNBC: Big Tech's $470B AI Spending Under Scrutiny Ahead of Earnings

Summary

CNBC published a comprehensive analysis on January 27, 2026, examining investor scrutiny of Big Tech's massive AI capital expenditure plans ahead of Q4 2025 earnings reports. The four major hyperscalers — Microsoft, Meta, Alphabet, and Amazon — are expected to boost combined capital expenditures to over $470 billion in 2026, up from approximately $350 billion in 2025 (a ~34% increase), according to analyst estimates compiled by FactSet. Company-specific spending projections: Amazon leads with $