Five tech giants account for 37% of top-100 US capex, highest since the 1970s
soumitrashukla9 · x · 2026-10-08
Economist Jason Furman notes that in 2025 five companies — Amazon, Alphabet, Meta, Microsoft and Oracle — were responsible for 37% of the global capex of the top 100 US-listed nonfinancial companies. Investment hasn't been this concentrated since the early 1970s, when AT&T reigned supreme.
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