4 of the Magnificent Seven (Magazine 7) tech giants are nonetheless on observe to fulfill their huge synthetic intelligence (AI) spending objectives this 12 months, in accordance with their earnings report.
Corporations reporting quarterly earnings after buying and selling on Wednesday are Microsoft (MSFT), Alphabet (GOOG), Meta (META) and Amazon (AMZ), with a mixed market capitalization of about $12 trillion.
Beforehand, an evaluation by Bridgewater Associates famous that the 4 firms are anticipated to spend roughly $650 billion collectively on AI infrastructure in 2026. Whereas most of them didn’t escape their AI spending of their newest earnings, they look like on observe to proceed their spending spree within the sector.
The funding has vital implications for the digital asset sector, significantly for bitcoin miners, who’re more and more shifting away from mining to internet hosting computer systems for AI as a part of their earnings diversification technique. Bitcoin miners have already got knowledge facilities prepared and geared up to deal with an enormous variety of machines wanted for AI computing. Confronted with shrinking margins as a consequence of decrease bitcoin costs and elevated competitors, miners have begun lending their knowledge facilities to synthetic intelligence firms to diversify their income streams.
AI-linked bitcoin mining shares with publicity to hyperscale infrastructure offers embrace IREN (IREN), which was down about 0.3%, TeraWulf (WULF), and Cipher Digital (CIFR), which was down 0.5%. In the meantime, following the outcomes, Microsoft was down greater than 2.4% in after-hours buying and selling, Alphabet was up 6%, Meta was down 6.6% and Amazon was down 3.7%. Bitcoin is down round 0.9% within the final 24 hours.
The following massive check for total market sentiment and miners will come when chipmaker Nvidia studies its outcomes on Could 20.
Here is what the tech giants reported and mentioned throughout their earnings.
microsoft
Microsoft reported fiscal third-quarter 2026 income of $82.9 billion, beating the consensus of $81.4 billion, with earnings per share (EPS) of $4.27 versus the estimate of $4.06, in accordance with FactSet knowledge.
“We’re targeted on delivering cloud and AI infrastructure and options that allow all firms to guage and maximize their ends in the period of agent computing,” mentioned Satya Nadella, president and CEO of Microsoft, noting that the corporate’s AI enterprise generated $37 billion, a rise of 123% 12 months over 12 months.
Alphabet
Alphabet pointed to AI as a core driver of progress and reported capital expenditures of $35.67 billion for the quarter, barely beneath estimates of $36.39 billion.
“Our investments in AI and our end-to-end strategy are lighting up each a part of the enterprise,” mentioned Alphabet CEO Sundar Pichai, linking positive aspects in search and cloud to demand pushed by AI. Google Cloud income elevated 63% to $20 billion, pushed partly by “enterprise AI options and enterprise AI infrastructure,” displaying how AI is shaping each product utilization and enterprise adoption.
Alphabet reported Q1 2026 income of $109.9 billion, beating the consensus of $107 billion, with earnings per share (EPS) of $2.81 versus the estimate of $2.63.
Amazon
Amazon reported Q1 2026 income of $181.5 billion, beating the consensus of $177.2 billion, with earnings per share (EPS) of $2.78 versus the estimate of $1.63. AWS income got here in at $37.6 billion versus the estimate of $36.92 billion.
Amazon mentioned free money circulation fell sharply over the previous 12 months, pointing to a rise in infrastructure spending. The corporate famous that the decline was “primarily as a consequence of a $59.3 billion year-over-year improve in property and gear purchases,” including that “this improve primarily displays investments in synthetic intelligence.” The shift exhibits how closely Amazon is leaning into AI, even because it weighs on near-term money technology.
Objective
Meta pointed to rising AI infrastructure prices as a key driver of spending, reporting $19.84 billion in capital spending for the quarter and elevating its full-year outlook to $125-145 billion, up from its earlier steerage of $115-135 billion. The rise displays “larger element pricing this 12 months and, to a lesser extent, further knowledge middle prices to help future 12 months capability,” the corporate mentioned, underscoring how AI improvement is driving funding.
CEO Mark Zuckerberg framed the push extra straight, calling it a “historic quarter” tied to AI progress and including, “We’re on observe to ship private superintelligence to billions of individuals.”
Meta reported Q1 2026 income of $56.31 billion, beating the consensus of $55.5 billion, with EPS of $10.44 versus the estimate of $6.67.
