# Alphabet, Amazon, Meta Platforms and Microsoft said they would spend a combined $725 billion this year on the underlying infrastructure.

*genai · news · 2026-05-01 · The Sunday Times*

## Key points

- Alphabet, Amazon, Meta, and Microsoft will spend a record $725 billion on AI infrastructure in 2024.
- Forecasts now predict combined hyperscaler capital expenditure surpassing $1 trillion by 2027.
- Free cashflow for the four firms dropped by over half to $54.7 billion in Q1 2024.
- Google Cloud's revenue from generative AI products rose nearly 800% year-on-year, becoming its main growth driver.
- Meta increased its 2024 capital expenditure forecast to as much as $145 billion due to higher input costs.

**Companies:** Alphabet, Amazon, Meta Platforms, Microsoft
**Countries:** United States

[Read the full story on The Sunday Times](https://www.thetimes.com/business/companies-markets/article/big-four-tech-giants-fuel-bubble-fears-725bn-budget-ai-9qtv3dl72)

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