Bloomberg Businessweek Big Tech Special: Meta, Microsoft, Alphabet & Amazon Deliver Earnings
10 snips
Apr 29, 2026 
Ron Westfall, HyperFRAME infrastructure and networking VP with data center expertise. Ed Ludlow, Bloomberg Tech co-host and tech reporter. They dig into Meta’s higher CapEx and investor jitters. They cover Microsoft’s Azure growth and AI guidance, Amazon’s heavy data-center spend, and Alphabet’s cloud momentum and Gemini adoption. Fast-paced breakdown of big tech moves and cloud competition.
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Cloud Growth Is The AI Spending Proof Point
- Cloud growth is the market's proof point for AI investments across Big Tech.
- Analysts flagged AWS, Google Cloud, and Azure growth as the key metric investors use to justify rising CapEx and AI spending.
Meta CapEx Hike Without Stronger Sales Guidance Hurt Stock
- Meta's bump in 2026 CapEx to $125–$145B spooked markets because revenue guidance didn't signal higher growth.
- The company guided Q2 sales $58–$61B, essentially in line with Street expectations, so investors sold shares.
Amazon's AI Build Shrinks Free Cash Flow
- Amazon's massive AI infrastructure build pushed trailing 12‑month free cash flow down to about $1.2B from much higher prior levels.
- Ed Ludlow framed this as a classic building cycle where investors tolerate negative FCF for future capacity.