Hyperscalers Commit $700 Billion to AI Infrastructure as Power Emerges as Bottleneck

The five largest U.S. cloud and AI infrastructure providers—Amazon, Microsoft, Alphabet, Meta, and Oracle—are planning to spend between $660 billion and $800 billion on capital expenditure in 2026, nearly doubling 2025 levels as they race to build out AI-ready data centers. Of this staggering sum, approximately 75 percent, or $450 to $600 billion, is earmarked specifically for AI infrastructure including GPUs, servers, data center construction, power systems, and cooling infrastructure.