Apple spent $12.7B on capex in 2025
Apple has taken a different approach to AI infrastructure spending, investing just $12.7B in capex in 2025.
The company’s decision to avoid the AI spending arms race has protected its balance sheet, while rivals have loaded up on debt to fund larger AI ambitions.
Amazon, Alphabet, Meta, and Microsoft collectively spent $416B on AI infrastructure in 2025, with $360 billion spent on capital expenditures.
This approach has allowed Apple to keep costs lower, but may now be running into its own limits, with the company forced to use Nvidia accelerators and pursue AI chip acquisitions.