Microsoft and Alphabet to report earnings; market demands “AI proof” in cloud…
Azure constant-currency growth pegged at 38%—anything less triggers a derating…
Google Cloud RPO (Backlog) becomes the “Scoreboard” for enterprise AI demand…
Hyperscalers projected to spend $185B in 2026; “Revenue miss” is not an option…
wow. Thats crazy
Big Tech Al Spending 👀!
> Combined annual capex across Alphabet, Amazon, Meta, Microsoft, and Oracle rose from $162B in 2022 to $448B in 2025.
> Microsoft (+$80B), Amazon (+$71B), and Alphabet (+$62B) added the most annual capex between 2022 and 2025.
> By… pic.twitter.com/oc5x3ScTRX
— SciTech Era (@SciTechera) April 28, 2026
For those looking at AI capex consensus forecasts and are concluding that we're near the end of the growth story for AI semis, well, consensus has been massively wrong for the last three years (chart below).
Long term, one has to think about the % of OpEx that will be spent on… pic.twitter.com/Tu7NSqNu0I
— Tech Fund (@techfund1) April 27, 2026
Here’s what will take center stage as Alphabet gears up for earnings
Alphabet needs to prove that its massive investments in AI are driving revenue growth. The biggest payoff could be in the cloud.
Google recently expanded its partnership with Anthropic for several additional gigawatts of custom TPU capacity.
Alphabet’s stock has been a popular artificial-intelligence pick, and the company’s first-quarter earnings report on Wednesday will be a test to see if that winning reputation is warranted.
Shares of Alphabet (GOOGL) (GOOG) have risen 119% year to date, making them the top performer among the “Magnificent Seven” group of tech stocks.
“We expect another strong beat as the Street continues to underestimate what Google Cloud, AI-powered search and YouTube can grow into,” Wedbush analyst Dan Ives wrote in a note last week.