"Tech stock futures were up this morning-contracts for the Nasdaq 100 were up 0.22% prior to the opening bell in New York-after a fistful of tech companies said they would increase their capital expenditures on AI, promising a vast wave of cash big enough to effect U.S. GDP growth.The only bad news? Some analysts have begun to warn that the pace of capex growth will start to slow down this year and next."
"Meta said its capital expenditures (capex) could be $135 billion this year, nearly double what it spent last year. Microsoft said it had spent $72.4 billion in the first half of its fiscal year, and capex in its most recent quarter was greater than the previous one, but growth at its Azure cloud unit was slowing-hence the hit to the stock. Tesla said it would double capex in 2026 as it shifts away from EV car production toward AI and robots. The company also said it would plow $2 billion into Elon Musk's xAI company, which makes the Grok chatbot."
Tech stock futures rose as multiple major firms announced large increases in AI-related capital expenditures. Meta projected capex of about $135 billion this year, nearly double prior spending. Microsoft reported $72.4 billion spent in the first half of its fiscal year but signaled slowing Azure growth, which weighed on its shares. Tesla plans to double capex in 2026 and shift toward AI and robotics while investing $2 billion in xAI. Samsung and SK Hynix expect rising memory capex. OpenAI will receive significant investment to fund AI data centers. Analysts warn capex growth may decelerate this year and next.
Read at Fortune
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