AMZN
Amazon.com, Inc.
10-Q
- AI-driven capex
- $220.0B
- Year to date
- $172.2B
- Forward guidance
- $220.0BFY Guide
- AI-scoped
- —
AI CapEx Tracker
Capital expenditure that US-listed companies have attributed to AI and/or data center buildout in their own words — each figure dated to the call or filing that disclosed it.
2026 year to date
$638.0B
Actual spend only
Since 2022
$1.52T
One figure per period
Forward guidance
$924.1B – $958.3B
Forecasts, kept apart
Last updated
Artificial Intelligence Capital Expenditure
Ranked by year-to-date AI CapEx
| Company | Disclosed capital allocation | Primary evidence | |||
|---|---|---|---|---|---|
| AI-driven capex | Year to date | Forward guidance | AI-scoped | Source | |
| AMZNAmazon.com, Inc. | $220.0B | $172.2B | $220.0BFY Guide | — | 10-Q |
| GOOGLAlphabet Inc. | $51.4B | $132.0B | $195.0B–$205.0BFY Guide | — | 10-Q |
| MSFTMicrosoft Corporation | $45.2B | $118.1B | $190.0BFY Guide | — | call |
| METAMeta Platforms, Inc. | $140.0B | $85.8B | $135.0B–$145.0BFY Guide | — | 10-Q |
| ORCLOracle Corporation | $28.5B | $63.6B | $90.0B–$95.0BFY Guide | — | 10-Q |
| MUMicron Technology, Inc. | $10.8B | $22.9B | $11.5BQuarter Guide | — | call |
| CRWVCoreWeave, Inc. Class A Common Stock | $9.4B | $16.2B | $31.0B–$35.0BFY Guide | — | call |
| TSLATesla, Inc. | $20.0B | $13.0B | $20.0BFY Guide | — | 10-Q |
| NBISNebius Group N.V. | $5.7B | $5.7B | $20.0B–$25.0BFY Guide | — | call |
| IRENIREN Limited | $15.0B | $5.0B | $15.0BFY Guide | $2.8B | 8-K |
| GLGLXYGalaxy Digital | $757M | $1.2B | — | $448M | call |
| AKAMAkamai Technologies, Inc. | $347M | $553M | $475M–$525MQuarter Guide | — | call |
| ICEIntercontinental Exchange, Inc. | $1.1B | $488M | $1.1BFY Guide | — | 8-K |
| TTMITTM Technologies, Inc. | $420M | $252M | $410M–$430MFY Guide | — | 10-Q |
| ORealty Income Corporation | — | $250M | — | $250M | call |
| MELIMercadoLibre, Inc. | $441M | $80M | — | $80M | call |
| RXTRackspace Technology, Inc. | $75M | $63M | $75MFY Guide | — | call |
| BKSYBlackSky Technology Inc. | $55M | $30M | $50M–$60MFY Guide | — | call |
| DGDGXXDigi Power X Inc. | $40M | $30M | $40MFY Guide | $30M | 8-K |
| AMNAMN Healthcare Services, Inc. | $26M | $26M | — | — | 10-Q |
| CHGGChegg, Inc. | $27M | $6M | $27MFY Guide | — | 8-K |
| DBXDropbox, Inc. | $23M | $5M | $20M–$25MFY Guide | — | call |
| BCEBCE Inc. | $1.3B | — | $1.3BFY Guide | $1.3B | call |
| CRTOCriteo S.A. | $180M | — | $180MFY Guide | — | 10-Q |
| UNHUnitedHealth Group Incorporated | — | — | $1.5BFY Guide | $1.5B | call |
GOOGL
Alphabet Inc.
10-Q
- AI-driven capex
- $51.4B
- Year to date
- $132.0B
- Forward guidance
- $195.0B–$205.0BFY Guide
- AI-scoped
- —
MSFT
Microsoft Corporation
call
- AI-driven capex
- $45.2B
- Year to date
- $118.1B
- Forward guidance
- $190.0BFY Guide
- AI-scoped
- —
META
Meta Platforms, Inc.
10-Q
- AI-driven capex
- $140.0B
- Year to date
- $85.8B
- Forward guidance
- $135.0B–$145.0BFY Guide
- AI-scoped
- —
ORCL
Oracle Corporation
10-Q
- AI-driven capex
- $28.5B
- Year to date
- $63.6B
- Forward guidance
- $90.0B–$95.0BFY Guide
- AI-scoped
- —
MU
Micron Technology, Inc.
call
- AI-driven capex
- $10.8B
- Year to date
- $22.9B
- Forward guidance
- $11.5BQuarter Guide
- AI-scoped
- —
CRWV
CoreWeave, Inc. Class A Common Stock
call
- AI-driven capex
- $9.4B
- Year to date
- $16.2B
- Forward guidance
- $31.0B–$35.0BFY Guide
- AI-scoped
- —
TSLA
Tesla, Inc.
10-Q
- AI-driven capex
- $20.0B
- Year to date
- $13.0B
- Forward guidance
- $20.0BFY Guide
- AI-scoped
- —
NBIS
Nebius Group N.V.
call
- AI-driven capex
- $5.7B
- Year to date
- $5.7B
- Forward guidance
- $20.0B–$25.0BFY Guide
- AI-scoped
- —
IREN
IREN Limited
8-K
- AI-driven capex
- $15.0B
- Year to date
- $5.0B
- Forward guidance
- $15.0BFY Guide
- AI-scoped
- $2.8B
GL
GLXY
Galaxy Digital
call
- AI-driven capex
- $757M
- Year to date
- $1.2B
- Forward guidance
- —
- AI-scoped
- $448M
AKAM
Akamai Technologies, Inc.
call
- AI-driven capex
- $347M
- Year to date
- $553M
- Forward guidance
- $475M–$525MQuarter Guide
- AI-scoped
- —
ICE
Intercontinental Exchange, Inc.
8-K
- AI-driven capex
- $1.1B
- Year to date
- $488M
- Forward guidance
- $1.1BFY Guide
- AI-scoped
- —
TTMI
TTM Technologies, Inc.
10-Q
- AI-driven capex
- $420M
- Year to date
- $252M
- Forward guidance
- $410M–$430MFY Guide
- AI-scoped
- —
O
Realty Income Corporation
call
- AI-driven capex
- —
- Year to date
- $250M
- Forward guidance
- —
- AI-scoped
- $250M
MELI
MercadoLibre, Inc.
call
- AI-driven capex
- $441M
- Year to date
- $80M
- Forward guidance
- —
- AI-scoped
- $80M
RXT
Rackspace Technology, Inc.
call
- AI-driven capex
- $75M
- Year to date
- $63M
- Forward guidance
- $75MFY Guide
- AI-scoped
- —
BKSY
BlackSky Technology Inc.
call
- AI-driven capex
- $55M
- Year to date
- $30M
- Forward guidance
- $50M–$60MFY Guide
- AI-scoped
- —
DG
DGXX
Digi Power X Inc.
8-K
- AI-driven capex
- $40M
- Year to date
- $30M
- Forward guidance
- $40MFY Guide
- AI-scoped
- $30M
AMN
AMN Healthcare Services, Inc.
10-Q
- AI-driven capex
- $26M
- Year to date
- $26M
- Forward guidance
- —
- AI-scoped
- —
CHGG
Chegg, Inc.
8-K
- AI-driven capex
- $27M
- Year to date
- $6M
- Forward guidance
- $27MFY Guide
- AI-scoped
- —
DBX
Dropbox, Inc.
call
- AI-driven capex
- $23M
- Year to date
- $5M
- Forward guidance
- $20M–$25MFY Guide
- AI-scoped
- —
BCE
BCE Inc.
call
- AI-driven capex
- $1.3B
- Year to date
- —
- Forward guidance
- $1.3BFY Guide
- AI-scoped
- $1.3B
CRTO
Criteo S.A.
10-Q
- AI-driven capex
- $180M
- Year to date
- —
- Forward guidance
- $180MFY Guide
- AI-scoped
- —
UNH
UnitedHealth Group Incorporated
call
- AI-driven capex
- —
- Year to date
- —
- Forward guidance
- $1.5BFY Guide
- AI-scoped
- $1.5B
A dash means not disclosed, never zero.Actuals and guidance remain separate
Questions
Common questions about AI capex.
- What is AI capex?
- AI CapEx is capital expenditure a company attributes to artificial intelligence: spending on long-lived infrastructure used to train and run AI, including data centers, servers, chips, power and cooling systems, and AI-related parts and materials that become part of those assets.
- How much are companies spending on AI capex in 2026?
- $638.0B so far in 2026 as of 8 November 2026, disclosed by US-listed companies and counting actual spend only. Forward guidance for the full year is $924.1B to $958.3B, kept separate because a forecast is not money spent.
- Which company is spending the most on AI capex?
- By disclosed year-to-date spend as of 8 November 2026, Amazon.com, Inc. (AMZN) leads with $172.2B, followed by Alphabet Inc. (GOOGL) at $132.0B and Microsoft Corporation (MSFT) at $118.1B. The full ranking is in the table above.
- How much AI capex has been disclosed since 2022?
- $1.52T since 2022 as of 8 November 2026. The count starts in 2022 because the generative-AI buildout began in that year's final quarter, so the total covers the boom from its first year. Each company contributes one figure per period, so no quarter is double-counted, and a company that disclosed AI spending in an earlier year and has since gone quiet is still counted for the periods it stated.
- Is the AI CapEx Tracker an estimate?
- No. Every figure is one a company put on the record itself — in an earnings call, an 8-K, or a quarterly or annual filing — and is dated to that disclosure. Companies building AI capacity without putting a dollar amount on it are left out rather than estimated.
Method
How the index is built.
The AI CapEx Index tracks disclosed capital expenditure by US publicly listed companies that name artificial intelligence or data-centre buildout as the reason for the spending. Every figure is one a company put on the record itself — in an earnings call, an 8-K, or a quarterly or annual filing — and each is dated to the call or filing it came from.
It is deliberately a floor. A company is counted only when it states a dollar amount and ties that amount to AI. The many companies building the same capacity without quantifying it are absent rather than estimated: nothing here is inferred, extrapolated or filled in.
Most of what is counted is a whole capital expenditure bill that the company attributed to AI, not an AI-only line item. Where a company has drawn the narrower line itself — spending scoped to AI alone — that figure is identified separately, because the two answer different questions.
Actual spending and forward guidance are never added together. A forecast is not money spent, and a guided year overlaps quarters already counted. Figures run from January 2022, and each update is dated so any number can be checked against the disclosure it came from.
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