Morgan Stanley sees Big Tech capex reaching $1.29 trillion by 2028
Beth_Kindig · x · 2026-07-26
Morgan Stanley projects Big Tech capex will climb to $1.16T in 2027 and $1.29T in 2028, with Google and Amazon leading the spend.
- 2027: Google $350B, Amazon $308B, Microsoft $276B, Meta $225B.
- 2028: Google $375B, Amazon $318B, Microsoft $344B, Meta $250B.
The chart implies capex continues rising, but at a slower 11% pace by 2028, with Meta the only one of the four still below $300B.
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