Hyperscaler Capex
Quarterly capital expenditure of the largest cloud and AI spenders, from company filings, plus SpaceX (incl. xAI), with separate tiers for neoclouds and AI infrastructure and for chip capacity. All figures are company-wide capex, not cloud-only. Below the main chart: the AI revenue that capex is earning, in two separate layers.
Summary by company
Quarterly capex by company
US$ billions, grouped by the calendar quarter in which each fiscal quarter ends. Click a figure for its source filing. Fiscal quarter labels are under each figure. A subtotal is shown only for quarters every member of the tier has reported.
Guidance
Next-quarter and full-year capex outlooks as the companies stated them. Several use a broader definition than the figures above; the basis is noted for each.
Cloud-only disclosures
Sources and definitions by company
Every quarter with its period, amount, exchange rate where relevant, and the primary source it comes from.