Microsoft's AI data center push reaches $175 billion in fiscal 2026 capex

Earnings Impact 4
โดย Zacks Investment Research·US·Read original
Summary · why it matters

Microsoft's capital expenditures and finance leases reached $175 billion on an adjusted basis for fiscal 2026, as the company's AI infrastructure buildout intensifies. Full fiscal-year property and equipment spending totaled roughly $116 billion, up nearly 80% from fiscal 2025, with about two-thirds of quarterly capex going toward short-lived assets like CPUs and GPUs. Fiscal fourth-quarter revenues rose 18% to $90 billion, Azure cloud revenue grew 43% in constant currency, and Microsoft 365 Copilot surpassed 30 million paid seats. Management guided to roughly $175 billion in fiscal 2027 capital expenditures alongside double-digit revenue and operating income growth, with operating margins expected to decline by less than one percentage point. The spending pace places Microsoft alongside Alphabet, which raised its 2026 capex guidance to $195 billion to $205 billion, and Oracle, whose fiscal 2026 capital spending more than doubled to $55.7 billion.

Impact on stocks 3

Artificial Intelligence▲ · 2 stocks
Microsoft Corporation
MSFT
▲ PositiveCapitalrelevance

Microsoft's fiscal 2026 capex reached $175B, with strong Azure growth and Copilot adoption, guiding to further spending and revenue growth.

Alphabet Inc Class C
GOOG
▲ PositiveCapitalrelevance

Alphabet's raised 2026 capex guidance to $195-205B is mentioned as comparable to Microsoft's spending, indicating similar AI infrastructure investment.

Cloud & Digital Infrastructure▲ · 1 stocks
Oracle Corporation
ORCL
▲ PositiveCapitalrelevance

Oracle's fiscal 2026 capital spending more than doubled to $55.7B, mentioned as part of the AI infrastructure buildout trend.

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