UBP says AI investments show early profitability as cloud growth accelerates
MSFT•Capex plans remain aggressive
Capex plans stayed aggressive: Alphabet guided USD 195-205 billion for 2026; Amazon targeted USD 220 billion. Supply constraints are expected into 2027.
Cloud and AI growth accelerates
- Google Cloud revenue growth rose to 82% in H1.
- Microsoft Azure rose to 43%.
- AWS rose to 37% on a USD 169 billion annualized base.
- Microsoft 365 Copilot exceeded 30 million paid licenses in June 2026, about 6.5% of commercial seats, doubling since end-2025.
Revenue gains at Anthropic and OpenAI
Anthropic annualized revenue climbed from about USD 9 billion to more than USD 65 billion by July 2026. OpenAI surpassed USD 40 billion.
UBP flags early AI profitability signs
Union Bancaire Privee flagged early signs of AI profitability as cloud growth accelerated in Q2 2026, driven by rising enterprise adoption.
