
Investing··12 min
The Earnings Call Tells You Which Hyperscaler Is Faking the CapEx ROI
Amazon, Google, Meta, and Microsoft guided to roughly $725 billion of 2026 capex, up 77% in a year. Some of them show you the revenue on the other side of the spend. Some of them call ROI 'a very technical question' and change the subject. The earnings call is where the tell shows up.
hyperscalersai-capexearnings