What the Data Shows
Major AI and cloud hyperscalers are compared by latest fiscal-year capex using company filings and annual results. The stat ranks Amazon, Alphabet, Meta, Microsoft and Oracle in US$ billions and carries each company’s capex-to-revenue ratio as supporting context. Amazon led with about US$128B of capex, while Oracle had the highest capex-to-revenue ratio at 37%. The values are not AI-only capex because the issuers do not isolate AI investment from broader infrastructure spending.
Data table
Unit: US$ billions · Period: FY2025
| Rank | Entry | Value | Period |
|---|
| 1 | Amazon | US$128.3B | FY2025 |
| 2 | Alphabet | US$91.4B | FY2025 |
| 3 | Meta | US$72.2B | FY2025 |
| 4 | Microsoft | US$64.6B | FY2025 |
| 5 | Oracle | US$21.2B | FY2025 |
Sources
Source 1: Microsoft
Publisher: Microsoft
Dataset/table: Revenue and cash-flow statements
Units: US$ millions
Date checked: 2026-05-24
Evidence: Supports Microsoft FY2025 revenue and additions to property and equipment.
Source 2: Alphabet
Publisher: Alphabet
Dataset/table: Consolidated statement of cash flows and revenue
Units: US$ millions
Date checked: 2026-05-24
Evidence: Supports Alphabet FY2025 revenue and purchases of property and equipment.
Source 3: Amazon
Publisher: Amazon
Dataset/table: Cash-flow statement and segment note
Units: US$ millions
Date checked: 2026-05-24
Evidence: Supports Amazon FY2025 net sales and purchases of property and equipment net of proceeds and incentives.
Source 4: Meta
Publisher: Meta
Dataset/table: Full-year financial results
Units: US$ millions
Date checked: 2026-05-24
Evidence: Supports Meta FY2025 revenue and capital expenditures including finance lease principal payments.
Source 5: Oracle
Publisher: Oracle
Dataset/table: Cash-flow statement and revenue table
Units: US$ millions
Date checked: 2026-05-24
Evidence: Supports Oracle FY2025 revenue and capital expenditures.
Data notes & caveats
Capex definitions are issuer-specific. The comparison is a company capex ranking and not a direct AI-only investment split.
Methodology
Rows use each company’s latest completed fiscal-year capex or closest issuer capex cash-flow metric. Capex-to-revenue ratios divide each row’s capex value by that same company’s total revenue for the fiscal year.
Source consistency notes
Rows use official company sources, a common US$ billions unit and latest completed fiscal years. Revenue denominators are company-specific and should not be summed as row shares.
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