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How Capex Ramp Up Will Squeeze Google, Amazon, Meta

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Feb 07, 2026

Big tech's dramatic ramp-up in projected capital expenditures this year will all but wipe out free cash flow for Amazon, Google and Meta Platforms. That will force some of those companies to make some difficult choices, such as whether to end stock buybacks or borrow more money.

The good news is that the big tech companies have the capacity to each borrow hundreds of billions more money than they currently do.

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How Capex Ramp Up Will Squeeze Google, Amazon, Meta

By Martin Peers

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