BTS
05-07

$Microsoft(MSFT)$  $Alphabet(GOOG)$  $Amazon.com(AMZN)$  $Meta Platforms, Inc.(META)$  

The Mag 4, Microsoft (MSFT), Alphabet (GOOG), Amazon (AMZN), and Meta Platforms (META), have entered a major phase of the AI arm race, with $725 billion in combined capital expenditure (CapEx) projected for 2026。。。

MSFT and GOOG lead the fiscal charge with record hardware investments; AMZN and META follow with multi-billion-dollar allocations to dominate the cloud market

Capturing CapEx depends on execution and partnerships; cloud providers, semiconductor makers, and infrastructure integrators stand to benefit; differentiation and supply chain strategy will determine the winners

Sky-high CapEx reflects confidence in digital transformation, AI, and cloud; inflation and global risks may temper returns, long-term trends support continued deployment, efficiency, scalability, and strategic alignment remain key

The market has shifted from a "Chip Story" to an "Infrastructure Story"; $725B is captured by those controlling land, power, and cooling, while the Mag 4 race to monetize capacity

@Tiger_comments：Mag 4 Capex & Cloud Recap: $725B CapEx, Who’s Going to Secure the Bag?
ARM +15% & All-Time High! 'Royalty Beneficiary' of AI Compute Expansion?
ARM jumped 15.05% to a fresh all-time high after Nvidia's earnings confirmed surging AI chip demand, with TD Cowen simultaneously reiterating its bullish rating. ARM's chip architecture licensing model positions it as a pure royalty beneficiary of AI compute growth — collecting fees on every ARM-based AI chip sold. 15% single-day move pushes ARM into technically overbought territory with no independent catalyst ahead of its own next earnings. ARM just rallied 15% on Nvidia's coattails — how much longer can this spillover momentum last?
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