Amazon, Microsoft, and Alphabet gained $1.5 trillion in market value as AI infrastructure demand justified heavy capital spending.
Amazon, Microsoft, and Alphabet added nearly $1.5 trillion in combined market value during earnings week, led by Microsoft’s $600 billion gain. Amazon and Alphabet each rose over $400 billion as investors rewarded proof of AI infrastructure monetization.
Apple lost $350 billion amid supply concerns, while Meta and Tesla shed $85 billion and $7 billion, respectively, over AI spending doubts. The six firms saw a $2 trillion market cap swing, highlighting Wall Street’s demand for profitable AI demand.
Big Tech’s AI spending is projected to reach $800 billion in the next 12 months, with Amazon raising its 2026 capex forecast to $220 billion. Investors prioritized firms demonstrating revenue from AI investments over those with unproven returns.