Hyperscaler Capital-Spending Index Nears 6,800 as Capex Growth Tops Free Cash Flow Growth
Photo: TokenPost
An index tracking capital spending by five major cloud providers reached nearly 6,800 by June 30, 2026, as their capex growth outpaced free-cash-flow growth during the AI infrastructure buildout. The chart indexes quarterly cumulative growth in capital expenditures and free cash flow, measured in millions of dollars. It sets both series to 100 on Dec. 31, 2011. The companies included are Microsoft, Amazon, Alphabet, Oracle and Meta. AI investment has moved into physical infrastructure, with spending directed toward chips and data centers.
Source: TokenPost
