Annual capital expenditure for Microsoft, Alphabet, Amazon and Meta, US$ billions.
Microsoft, Alphabet, Amazon and Meta are compared on annual capex from FY2021 through FY2025. The series uses company filing metrics in US$ billions and does not use a revenue denominator. Meta and Alphabet had the largest 2021-to-2025 capex multiples, at about four times their FY2021 levels. The four-company total rose from about US$120B in FY2021 to about US$357B in FY2025, while capex definitions differ by issuer.
Source 1: Microsoft
Publisher: Microsoft
Dataset/table: Cash-flow statements
Units: US$ millions
Date checked: 2026-05-24
Evidence: Supports Microsoft capex values for FY2021 through FY2025.
Source 2: Alphabet
Publisher: Alphabet
Dataset/table: Consolidated statements of cash flows
Units: US$ millions
Date checked: 2026-05-24
Evidence: Supports Alphabet capex values for FY2021 through FY2025.
Source 3: Amazon
Publisher: Amazon
Dataset/table: Cash-flow statement
Units: US$ millions
Date checked: 2026-05-24
Evidence: Supports Amazon capex values for FY2021 through FY2025.
Source 4: Meta
Publisher: Meta
Dataset/table: Capital expenditures including finance lease principal payments
Units: US$ millions
Date checked: 2026-05-24
Evidence: Supports Meta capex values for FY2021 through FY2025.
Microsoft, Alphabet, Amazon and Meta use different capex wording in their filings. The chart avoids a share denominator and uses US$ billions throughout.
Series values use each company’s disclosed capex cash-flow metric for the relevant fiscal year. The comparison emphasizes within-company growth and raw scale rather than a common revenue share.
All series use official company sources and US$ billions. Fiscal year-ends and exact capex definitions differ across issuers.
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