Finance AI
Tencent Could Profit Renting $53B of AI Hardware, But Won't
Executives put rental margins above 30% and said depreciation would be recovered "almost immediately". The capacity is going into Tencent's own models instead.
Aug 13, 2026
#AI capex
Anthropic
SpaceX's AI Arm Outspent Rockets 13-To-1, Anthropic Pays $1.25B
The first earnings report since June's IPO shows a launch company whose financial centre of gravity is inference. Revenue beat, the loss narrowed, and the capital expenditure line took eight percent off the stock.
Aug 6, 2026
Finance AI
Amazon's Earnings Beat Was a Paper Gain on Anthropic, and Its Cash Flow Went Negative
$5.75 a share against a $1.81 estimate — with $53.4 billion of non-operating income sitting underneath it.
Jul 31, 2026
Meta AI
Meta Grew 28% and Had $784 Million Left Over
Revenue topped $60 billion. Operating margin fell from 43% to 31%, net income dropped 14%, and free cash flow — normally around $12 billion a quarter — came in at $784 million, against $24.9 billion of newly issued debt.
Jul 30, 2026
Microsoft AI
Azure Passed $100 Billion, But The Stock Moved On Depreciation
Fourth-quarter revenue reached $90.0 billion and Copilot hit 30 million paid seats. Microsoft also extended the useful life of its data centres from 15 years to 25, cutting its calendar-2026 capex headline by about $15 billion without changing what it intends to build.
Jul 30, 2026
Finance AI
Meta Found Another Way to Build a Gigawatt Without Paying for It
BlackRock's funds take 80% of a $14 billion campus in El Paso. Meta contributes land, manages construction, is the only tenant, and guarantees residual value of up to about $13 billion.
Jul 29, 2026
Finance AI
Gartner Raised World IT Spend to $6.37 Trillion, and Someone Has to Pay for the AI
Data centre systems are forecast to grow 62.5% this year. IT services grow 5.3%. The gap is the answer to who is absorbing the cost of the buildout.
Jul 28, 2026
Google AI
Alphabet's Cloud Grows 82% — but a $205 Billion Capex Plan Pushes Free Cash Flow Negative
A blowout AI quarter and a record $44.9 billion in quarterly capital spending arrive in the same report: Google Cloud surges, Gemini hits 950 million users, and investors still sell the stock.
Jul 23, 2026
