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Tech Giants Boost 2026 Capex, Shares Tumble Amid AI Fears

7/27/2026

40 8 Full Breakdown

Summary

Story summary

Alphabet Inc. shares fell over 7% after raising 2026 capex to $205 billion and posting Q2 negative free cash flow.
Microsoft Corp. stock is down 21% this year as investors fear AI lag despite a $190 billion capex plan.
Bloomberg analysts estimate six firms will spend $724 billion on capex in 2026 and $950 billion in 2027.
The SOX semiconductor index, up 101% YTD, fell 17% in July, worst month since June 2022.

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Story summary

Alphabet Inc. shares fell over 7% after raising 2026 capex to $205 billion and posting Q2 negative free cash flow.
Microsoft Corp. stock is down 21% this year as investors fear AI lag despite a $190 billion capex plan.
Bloomberg analysts estimate six firms will spend $724 billion on capex in 2026 and $950 billion in 2027.
The SOX semiconductor index, up 101% YTD, fell 17% in July, worst month since June 2022.