AI Capex Gap: Apple's 9-Month Spend Less Than Amazon's Single Quarter
mkheck · x · 2026-07-31
Highlights the stark contrast in AI infrastructure spending between Apple and other tech giants.
Apple's latest earnings report shows only $6.8 billion in capital expenditures over nine months. In contrast, tech giants like Alphabet, Meta, Microsoft, and Amazon are committing $30 billion to $53 billion per quarter to AI capex. Due to this massive AI investment, Meta's free cash flow plummeted to $784 million, and Amazon's went negative.
Additionally, while these giants booked paper gains from their Anthropic investments, Apple's earnings come entirely from its core business operations.
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