Meta Guides $115–135 Billion Capex in 2026 as AI Spending Surges
META•Goldman Sachs projects combined AI capex for Meta, Microsoft, Amazon and Alphabet of $5.3 trillion from fiscal 2025 to 2030, up from a prior $4.5 trillion estimate. Meta alone plans $115 billion to $135 billion in capital expenditures for 2026, contributing to a 77% jump in hyperscaler capex.
1. AI Capex Projection Upgrade
Goldman Sachs has raised its combined capital expenditure forecast for the four largest hyperscalers to $5.3 trillion from fiscal 2025 through fiscal 2030, up from an earlier $4.5 trillion estimate, reflecting growing investment in AI infrastructure.
2. Meta's 2026 Capex Guidance
Meta expects to allocate between $115 billion and $135 billion in capital expenditures for calendar 2026, representing a significant increase as it builds data centers and AI compute capacity.
3. Hyperscaler Spending Surge
Top hyperscalers collectively plan $725 billion in capex for 2026, a 77% increase from $410 billion last year, with Amazon targeting $200 billion, Microsoft $190 billion, and Alphabet $175–185 billion.
4. Growth and Return Expectations
These massive AI investments are intended to drive accelerated revenue and profit growth in the medium term, with investors demanding strong returns to justify constrained near-term margins.
