# 四大科技巨头云收入激增，资本开支飙升引市场担忧

- 来源：Chubby♨️ (@kimmonismus)
- 发布时间：2026-04-30 18:44
- AIHOT 分数：62
- AIHOT 链接：https://aihot.virxact.com/items/cmoldveua02cislc587h47bz6
- 原文链接：https://x.com/kimmonismus/status/2049801938640764928

## AI 摘要

Meta、亚马逊、Alphabet和微软2026年第一季度营收均超预期，云业务增长强劲，其中Google Cloud收入暴涨63%首次突破200亿美元。然而，四家超大规模企业2026年资本开支总额预计将超过6500亿美元，巨额AI基础设施投资引发市场焦虑，导致Meta和微软股价在盘后下跌。这些巨头在计算领域的投入规模正重塑全球经济，其投资能否带来相应回报将定义未来十年的科技投资格局。

## 正文

Cloud revenue explodes， stocks still tumble： Meta， Amazon， Alphabet and Microsoft earnings：

All four tech giants reported Q1 2026 earnings on the same day， and every single one beat Wall Street expectations. Alphabet led the pack with $109.9 billion in revenue， up 22% year over year， as Google Cloud exploded 63% to cross $20 billion for the first time. Microsoft posted $82.9 billion in revenue with Azure growing 40%， while Meta surged 33% to $56.3 billion in revenue and Amazon hit $181.5 billion with AWS growing 28%， its fastest pace in 15 quarters.

But here's the number that shook markets： combined 2026 capex across the four hyperscalers is on track to exceed $650 billion！！ Alphabet raised its full year 2026 capex guidance to $180 billion to $190 billion， Microsoft guided $190 billion for calendar year 2026， and Meta bumped its range to $125 billion to $145 billion. Amazon's capex reached $44.2 billion in Q1 alone.
The revenue beats were massive， but so was the market's anxiety： Meta slid 6% and Microsoft dropped 2.5% after hours， even as Alphabet shares rose 7% in after-hours trading， on course to open at a record market value.

The hyperscalers are collectively spending more on AI infrastructure than the GDP of most nations， completely reshaping the global economy around compute. Whether this bet generates returns proportional to its scale will define tech investing for the next decade， at least thats for sure.