Major tech firms project combined capital expenditures of $860 billion in 2026, led by AI investments, overshadowing SpaceX’s $18.4 billion outlay.
SpaceX reported $18.4 billion in capital expenditures for the latest quarter, primarily directed toward AI infrastructure. The figure pales next to rivals, with Oracle targeting up to $95 billion in fiscal 2027, Microsoft at $175 billion for the current fiscal year, and Amazon revising its 2024 capex to $220 billion.
Total AI-related spending across major tech firms is projected to reach $860 billion in 2026, an 80% increase year-over-year. Meta and other companies are also scaling investments, with Meta’s annual capex nearing $145 billion. SpaceX’s spending, while substantial, positions it as a minor player in the AI arms race.
Markets reacted cautiously to SpaceX’s disclosure, questioning its strategy of renting out data center capacity rather than deploying it internally. The company’s AI models are perceived as lagging behind leaders like OpenAI and Anthropic, though it supplies computing power to Google and Anthropic.