4 of the Magnificent Seven (Magazine 7) tech giants are nonetheless on monitor to satisfy their large synthetic intelligence (AI) spending targets this yr, based on their earnings report.
The businesses which have reported quarterly earnings post-market on Wednesday are Microsoft (MSFT), Alphabet (GOOG), Meta (META) and Amazon (AMZ), with a mixed market cap of roughly $12 trillion.
Beforehand, an evaluation by Bridgewater Associates flagged that the 4 firms are anticipated to spend roughly $650 billion collectively on AI infrastructure in 2026. Whereas most of them did not get away their AI spending of their newest earnings, they appear on monitor to proceed their spending spree within the sector.
The funding has vital implications for the digital asset sector, notably for bitcoin miners, who’re more and more pivoting away from mining towards internet hosting computer systems for AI as a part of their income diversification technique. The bitcoin miners have already got knowledge facilities prepared and powered as much as host a large quantity of machines which are wanted for AI computing. Dealing with a margin squeeze from decrease bitcoin costs and elevated competitors, miners have began lending their knowledge facilities to AI corporations to diversify their income streams.
AI-linked bitcoin mining shares with publicity to hyperscaler infrastructure offers embody IREN (IREN), which was down about 0.3%, TeraWulf (WULF) and Cipher Digital (CIFR), which fell 0.5%. In the meantime, following the outcomes, Microsoft was down over about 2.4% in after-hours buying and selling, Alphabet up 6%, Meta down 6.6% and Amazon down 3.7%. Bitcoin was down about 0.9% within the final 24 hours.
The subsequent large take a look at of general market sentiment and miners will come when chipmaker Nvidia studies earnings on Could 20.
Here’s what the tech giants reported and stated throughout their earnings.
Microsoft
Microsoft reported fiscal Q3 2026 income of $82.9 billion, beating the $81.4 billion consensus, with EPS of $4.27 towards the $4.06 estimate, based on FactSet knowledge.
“We’re targeted on delivering cloud and AI infrastructure and options that empower each enterprise to eval-max their outcomes within the agentic computing period,” stated Satya Nadella, chairman and chief government officer of Microsoft, noting that the agency’s AI enterprise introduced in $37 billion, up 123% year-over-year.
Alphabet
Alphabet pointed to AI as a core driver of progress and reported capital expenditures of $35.67 billion for the quarter, barely under estimates of $36.39 billion.
“Our AI investments and full stack strategy are lighting up each a part of the enterprise,” Alphabet CEO Sundar Pichai stated, linking beneficial properties in Search and Cloud to AI-driven demand. Google Cloud income rose 63% to $20 billion, fueled partially by “enterprise AI Options and enterprise AI Infrastructure,” exhibiting how AI is shaping each product utilization and enterprise adoption.
Alphabet reported Q1 2026 income of $109.9 billion, beating the $107 billion consensus, with EPS of $2.81 towards the $2.63 estimate.
Amazon
Amazon reported Q1 2026 income of $181.5 billion, beating the $177.2 billion consensus, with EPS of $2.78 towards the $1.63 estimate. AWS income got here in at $37.6 billion towards the $36.92 billion estimate.
Amazon stated free money stream fell sharply over the previous yr, pointing to a surge in infrastructure spending. The corporate famous the drop was “pushed primarily by a year-over-year improve of $59.3 billion in purchases of property and gear,” 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.
Meta
Meta pointed to rising AI infrastructure prices as a key driver of spending, reporting $19.84 billion in capital expenditures for the quarter and elevating its full-year outlook to $125–145 billion, up from its prior steerage of $115–$135 billion. The rise displays “increased element pricing this yr and, to a lesser extent, further knowledge middle prices to help future yr capability,” the corporate stated, underscoring how AI buildout is driving funding.
CEO Mark Zuckerberg framed the push extra instantly, calling it a “milestone quarter” tied to AI progress and including, “We’re on monitor to ship private superintelligence to billions of individuals.”
Meta reported Q1 2026 income of $56.31 billion, beating the $55.5 billion consensus, with EPS of $10.44 towards the $6.67 estimate.
