Enterprise AI in Numbers · Adoption and spend
AI infrastructure spending by the largest cloud providers
$510.7 billion
$510.7 billion as of June 30, 2026, according to US Securities and Exchange Commission, XBRL financial data, up from $433.9 billion on March 31, 2026. Cash paid for property and equipment over the last four reported calendar quarters, summed across the four companies, from the cash-flow statements in their 10-Q and 10-K filings.
What it means for leaders
The largest cloud providers keep raising infrastructure spending, which supports more AI capacity and falling prices over the next two years. It also raises the stakes for them to sell that capacity.
What would change the reading: The first quarter in which combined spending falls.
The trend
The breakdown
Every reading
| Date | Value | Change | Source |
|---|---|---|---|
| $510.7 billion | +17.7% | Source | |
| $433.9 billion | +15.4% | Source | |
| $376.1 billion | +14.0% | Source | |
| $329.8 billion | +13.2% | Source | |
| $291.3 billion | +13.8% | Source | |
| $256.0 billion | +12.1% | Source | |
| $228.3 billion | +14.8% | Source | |
| $198.9 billion | +12.4% | Source | |
| $177.0 billion | +12.3% | Source | |
| $157.6 billion | +7.0% | Source | |
| $147.2 billion | +2.6% | Source | |
| $143.6 billion | −1.6% | Source | |
| $145.9 billion | −2.4% | Source | |
| $149.5 billion | −1.1% | Source | |
| $151.1 billion | +1.8% | Source | |
| $148.4 billion | +4.6% | Source | |
| $141.8 billion | +4.5% | Source | |
| $135.7 billion | +6.3% | Source | |
| $127.6 billion | +6.2% | Source | |
| $120.2 billion | +6.8% | Source | |
| $112.5 billion | +9.8% | Source | |
| $102.5 billion | +7.7% | Source | |
| $95.2 billion | +11.9% | Source | |
| $85.0 billion | +8.6% | Source | |
| $78.3 billion | +4.6% | Source | |
| $74.9 billion | +8.4% | Source | |
| $69.1 billion | — | Source |
Definition and method
- What it measures
- Cash paid for property and equipment over the last four reported calendar quarters, summed across the four companies, from the cash-flow statements in their 10-Q and 10-K filings.
- Population
- Microsoft, Alphabet, Amazon and Meta
- Updated
- Quarterly
- Source
- US Securities and Exchange Commission, XBRL financial data · Public (SEC filings)
Caveats
- Capital spending covers all data centers and equipment, not only AI.
- Finance leases are excluded, so total infrastructure commitments are higher.
Cite this
Enterprise AI in Numbers, "AI infrastructure spending by the largest cloud providers", https://lucianoayres.com/ai-brief/data/hyperscaler-capex/, retrieved October 25, 2026. Data: US Securities and Exchange Commission, XBRL financial data.